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 : | 978-92-842-1257-6 |
| 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
- 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