Uniform Rules for Documentary Credits

No. 600E

ISBN : 978-92-842-0280-5

Commercial letters of credit are the lifeblood of international trade. For more than 85 years, the Uniform Customs and Practice for Documentary Credits (UCP) - the International Chamber of Commerce's rules on documentary credits - have governed letter of credit transactions worldwide. 

UCP 600 contains important new provisions in the fields of transport, insurance and compliance, which will form the basis of letter of credit transactions for years to come. 

The revised UCP includes a "Definitions" article designed to clarify the meaning of key terms, a changed practice for giving a notice of refusal and other modifications you will need to know. It also includes version 2.0 of the eUCP - the 14 articles of ICC's supplement to the UCP that govern presentation of documents in electronic form. 

Since its inception, the UCP has remained a vital component of international trade. Bankers, traders, lawyers, transporters, academics and all who deal with letter of credit transactions will refer to UCP 600 on a daily basis.

Code ISBN : 978-92-842-0280-5
Weight : 0.1600 kgs
Language : English

Contents

Foreword

ICC Uniform Customs and Practice for Documentary Credits

Introduction

Article 1       Application of UCP

Article 2       Definitions

Article 3       Interpretations

Article 4       Credits v. Contracts

Article 5       Documents v. Goods, Services or Performance

Article 6       Availability, Expiry Date and Place for Presentation

Article 7       Issuing Bank Undertaking

Article 8       Confirming Bank Undertaking

Article 9       Advising of Credits and Amendments

Article 10     Amendments

Article 11     Teletransmitted and Pre-Advised Credits and Amendments

Article 12    Nomination

Article 13     Bank-to-Bank Reimbursement Arrangements

Article 14     Standard for Examination of Documents

Article 15     Complying Presentation

Article 16     Discrepant Documents, Waiver and Notice

Article 17     Original Documents and Copies

Article 18     Commercial Invoice

Article 19     Transport Document Covering at Least Two Different Modes of Transport

Article 20     Bill of Lading

Article 21     Non-Negotiable Sea Waybill

Article 22     Charter Party Bill of Lading

Article 23     Air Transport Document

Article 24     Road, Rail or Inland Waterway Transport Documents

Article 25     Courier Receipt, Post Receipt or Certificate of Posting

Article 26     “On Deck”, “Shipper’s Load and Count”, “Said by Shipper to Contain” and Charges Additional to Freight

Article 27     Clean Transport Document

Article 28     Insurance Document and Coverage

Article 29     Extension of Expiry Date or Last Day for Presentation

Article 30     Tolerance in Credit Amount, Quantity and Unit Prices

Article 31     Partial Drawings or Shipments

Article 32     Instalment Drawings or Shipments

Article 33     Hours of Presentation

Article 34     Disclaimer on Effectiveness of Documents

Article 35     Disclaimer on Transmission and Translation

Article 36     Force Majeure

Article 37     Disclaimer for Acts of an Instructed Party

Article 38     Transferable Credits

Article 39     Assignment of Proceeds

 

Supplement to UCP 600 for Electronic Presentation

Introduction eUCP Version 2.0

Introduction 1.1

Article e1               Scope of the eUCP

Article e2               Relationship of the eUCP to the UCP

Article e3               Definitions

Article e4               Electronic Records and Paper Documents

  1. Goods, Services or Performance

Article e5               Format

Article e6               Presentation

Article e7               Examination

Article e8               Notice of Refusal

Article e9               Originals and Copies

Article e10             Date of Issuance

Article e11             Transport

Article e12             Data Corruption of an Electronic Record

Article e13             Additional Disclaimer of Liability for Presentation of Electronic Records under eUCP

Article e14             Force Majeure

Acknowledgements

ICC at a Glance

 

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