Icc uniform customs and practice for documentary credits - english leaflet edition

Icc Publication

Parution le 01/01/2007

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Résumé

The leaflet contains the full text of the UCP 600 (including the 12 articles of the eUCP, governing presentation of documents in electronic or part-electronic form) in a handy format: - 8 page, fold-out Leaflet, size 21 x 29.7 cm

UCP600 in the practical leaflet format is sold in sets of 25 leaflets at 100€ per pack.

UCP 600 came into effect on 1 July 2007. It contains significant changes you will need to know, including:

A reduction in the number of articles from 49 to 39;
New articles on "Definitions" and "Interpretations" to provide more clarity and precision in the rules;
The replacement of the phrase "reasonable time" for acceptance or refusal of documents by a firm period of five banking days;
New provisions which allow for the discounting of deferred payment credits;
A definitive description of negotiation as "purchase" of drafts of documents.

This edition also contains within the text the 12 Articles of the eUCP, ICC's supplement to the UCP governing presentation of documents in electronic or part-electronic form.

Used by letter of credit practitioners worldwide, the Uniform Customs and Practice for Documentary Credits (UCP) are the most successful private rules for trade ever developed. Bankers, traders, lawyers, transporters, academics and all who deal with letter of credit transactions worldwide, will refer to UCP 600 on a daily basis.