Uniform Customs and Practice for Documentary Credits: Difference between revisions
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(UCP) | (UCP) | ||
The Uniform Customs and Practice for Documentary Credits is a code of practice for the issuance, use and processing of letters of credit that was first published in 1933. It is published by the Banking Commission of the [[International Chamber of Commerce]]. | The Uniform Customs and Practice for Documentary Credits is a code of practice for the issuance, use and processing of letters of credit that was first published in 1933. It is published by the Banking Commission of the [[International Chamber of Commerce]]. | ||
The code is accepted by commercial companies, banks, insurers and shippers and recognised by the courts in most countries of the world. | The code is accepted by commercial companies, banks, insurers and shippers and recognised by the courts in most countries of the world. | ||
In autumn 2013 the most recent | In autumn 2013 the most recent version of the Code was UCP600 that came into effect in 2007. | ||
Note: The UCP is sometimes referred to as the "Uniform Customs & Practice for Documentary Credits" and the substitution of "&" for "and" can confuse some search engines and indexing systems. | Note: The UCP is sometimes referred to as the "Uniform Customs & Practice for Documentary Credits" and the substitution of "&" for "and" can confuse some search engines and indexing systems. | ||
[[Category:Trade_Finance]] | |||
[[Category:Legal_Documentation]] | |||
Revision as of 09:38, 9 October 2013
(UCP)
The Uniform Customs and Practice for Documentary Credits is a code of practice for the issuance, use and processing of letters of credit that was first published in 1933. It is published by the Banking Commission of the International Chamber of Commerce.
The code is accepted by commercial companies, banks, insurers and shippers and recognised by the courts in most countries of the world.
In autumn 2013 the most recent version of the Code was UCP600 that came into effect in 2007.
Note: The UCP is sometimes referred to as the "Uniform Customs & Practice for Documentary Credits" and the substitution of "&" for "and" can confuse some search engines and indexing systems.
