International Trade Finance

Bhatan Millinery is a women's hat manufacturer based in Ontario. They have begun to explore building a factory in Cambodia. In discussing how to finance this expansion, the son of Bhatan's owners, Amjad, came across a reference to UCP600 and ISP 98. He knew that you had recently taken an international Trade Finance and had covered these topics. To help Amjad, describe the origins of UCP600 and ISP98 and the differences between the two sources of regulations.