Throughout the history of UCP, the longest lasting operational rules have been those derived from internationally acceptable best practices. I would propose that the effort to establish best practices be undertaken using four tools the SBPED, ISP98, the Opinions of the Banking Commission, and decisional law by respected courts in jurisdictions that influence letter of credit case law in the various regions. The SBPED and the ISP98 should be used; not only as a model for the drafting of future operational rules, but also as a questionnaire on best practices directed to all the national committees. The Opinions of the Banking Commission and the leading cases should be used to verify the soundness and enforceability of proposed rules. For this reason, I would suggest that the revision wait until the dust settles sometime in 2003 (10 years after the enactment of UCP 500) and we know if it is a good idea to attempt the drafting of new operational rules and whether to merge with closely related sets of rules. To do otherwise may entail a revision of the revision while it is still going on, or worse, discarding it before the ink dries or the electronic message reaches its intended recipient.