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Incoterms 2010 seminar series  




UCP 600 Leaflet Version (pack of 25 leaflets)

Price: $125.00
Out of stock
Item No.: 600LF
ISBN: 978-92-842-0007-8
UCP 600 Leaflet Version
Each pack contains 25 leaflets
Pub No. 600LF
8 pages Leaflet Foldout
8 inches x 11 inches
2007 Edition
8 pages
UCP 600  2007 Revision Approved 

By a unanimous vote of 91 to 0, the ICC Banking Commission on October 25, 2006 approved UCP 600, ICC's revised rules on documentary credits.

Commercial letters of credit are the lifeblood of the international trade system and, for more than 70 years, the International Chamber of Commerce (ICC) has established the rules governing documentary credits worldwide.

UCP 600 entered into effect on July 1, 2007 and contains substantive changes to the existing rules that are essential to know if you work in the international banking or trade industries.

New Provisions

  • Leaner set of rules, with 39 articles rather than 49 articles of UCP 500
  • New section of "Definitions", containing terms such as "honor" and "negotiation"
  • Replacement of the term "reasonable time" with a definite number of days for examining and determining compliance of documents
  • New provision concerning addresses of the beneficiary and the applicant
  • Expanded discussion of "original documents"
  • Re-drafted transport articles aimed at resolving confusion over the identification of carriers and agents.
  • 12 articles of the eUCP, ICC's supplement to the UCP governing presentation of documents in electronic or part-electronic form

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Commentary on UCP 600
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