The Complete UCP is a thorough reference book about International Chamber of Commerce’s Uniform Customs and Practice for Documentary Credits (UCP). These rules are used by letter of credit practitioners the world over but most practitioners know very little about the UCP’s creation and how they have developed over the years. The Complete UCP traces the history of the rules from their inception more than 70 years ago through their latest revision, UCP 600, which came into effect on 1 July 2007.
Written and compiled by Dan Taylor, Vice-Chairman of the ICC Banking Commission, this valuable collection contains the full text of the seven versions of the UCP that have appeared since 1933, as well as their antecedents, which date back to 1920. Each text is accompanied by an incisive,detailed commentary explaining the major changes from one UCP to another. More than just a history, The Complete UCP provides valuable insights into the most successful private rules for trade ever developed. This important work will enhance your understanding of UCP 600 while giving you a larger scope of its development through history.
"The early “Regulation” issued by the New York Bankers affecting export commercial letters of credit and early UCP versions […] shed light on the meaning of current UCP articles. They also demonstrate a consistent approach in UCP drafting of fashioning rules that make letters of credit payment mechanisms."
John F. Dolan, Distinguished Professor at Wayne State University Law School.
| Code ISBN : | 978-92-842-0283-6 |
| Number of pages : | 249 |
| Publishing date : | 2008 |
| Language : | English |
| Format in cm : | 16*24 |
Preface
Introduction
- Early History of Letter of Credit Rules
Regulations Affecting Export Commercial Credits
Regulations Affecting Export Commercial Credits
Joint Regulations Governing the Handling of Documentary Credits
- Development of the UCP
Draft Uniform Regulations on Export Commercial Credits – 1927
Uniform Regulations for Commercial Documentary Credits 1929 Draft
- 1933 Regulations
Uniform Customs and Practice for Commercial Documentary Credits
Uniform Customs and Practice for Commercial Documentary Credits Brochure 82
- 1951 Revision
Uniform Customs and Practice for Commercial Documentary Credits.
Uniform Customs and Practice for Commercial Documentary Credits Brochure 151
- 1962 Revision
Uniform Customs and Practice for Documentary Credits
Uniform Customs and Practice for Documentary Credits Brochure 222
- 1974 Revision
Uniform Customs and Practice for Documentary Credits
Uniform Customs and Practice for Documentary Credits Publication No. 290
- 1983 Revision
Uniform Customs and Practice for Documentary Credits
- 1993 Revision
Uniform Customs and Practice for Documentary Credits
- 2007 Revision – Uniform Customs and Practice for Documentary Credits
Conclusion
Dan Taylor
Dan Taylor is President and Chief Executive Officer of the International Financial Services Association and the IFSA Foundation. The International Financial Services Association is a trade association representing over 100 global financial services firms in the area of financial services operations. The IFSA’s representation of the financial services community includes liaison with national and international organizations and governments, legislative and regulatory agencies. The IFSA offers extensive educational programs as well as research and publications on financial services operations.
Mr Taylor joined the IFSA in April 1989. He has worked in the field of international banking operations for over 32 years. Since 1996, Mr Taylor has served as a Vice Chairman of the International Chamber of Commerce, Commission on Banking Technique and Practice and has attended its meetings since 1989. He cur rently chairs the Banking Commission’s Anti-Money Laundering Task Force. He was a member of the drafting groups for the last two revisions of the Uniform Customs and Practice for Documentary Credits (UCP 500 and UCP 600).
Mr Taylor was co-chairman of the ICC Working Group that created the supplement to the Uniform Customs and Practice for Documentary Credits for e-commerce (eUCP). He was Chairman of the working group that created the Uniform Rules for Bank-to- Bank Reimbursements Under Documentary Credits and was a member of the working group that created the International Standby Practices (ISP98). He was an advisor to the US National Conference of Commissioners on Unifor m State Law Drafting Committee for the revision of the Uniform Commercial Code Article 5 and has been actively involved in a number of projects of the United Nations Commission on International Trade Law.
Mr Taylor is a member of the Board of Directors of Letter of Credit Survey, Inc., the publisher of Documentary Credit World magazine, and is a member of the Advisory Board of the National Law Center for Inter-American Free Trade. He serves as volunteer President of the Patriots’ Path Council of the Boy Scouts of America, which serves 20,000 youth and has 6,000 adult volunteers in northern New Jersey in the US. He is frequently quoted in the press and speaks regularly around the world on issues relating to the financial services operations industry. Mr Taylor has published numerous articles on financial services issues and is the author of Bank-to-Bank Reimbursements under Documentary Credits – A Practical Guide to Daily Operations and co-author of the Guide to the eUCP.