Uniform Customs and Practice for Documentary Credits and Unit trust: Difference between pages

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(UCP).
''UK''.


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.  
A unit trust is a vehicle for small investors to invest, indirectly, in listed securities.


It is published by the Banking Commission of the [[International Chamber of Commerce]].
The small investors buy units in the unit trust, and the trust invests in a portfolio of listed securities.


The code is accepted by commercial companies, banks, insurers and shippers and recognised by the courts in most countries of the world.
A unit trust is similar to an open-ended investment company, except that the units in the unit trust are not themselves listed.


The most recent version is UCP600 that came into effect in 2007.


== See also ==
* [[Investment trust]]
* [[Open-ended investment company]]
* [[Security]]
* [[Undertaking for collective investments in transferable securities]]
* [[Vehicle]]


'''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:Financial_products_and_markets]]
 
 
==See also==
* [[Letter of credit]]
 
[[Category:Trade_finance]]
[[Category:Treasury_operations_infrastructure]]

Revision as of 15:18, 10 December 2021

UK.

A unit trust is a vehicle for small investors to invest, indirectly, in listed securities.

The small investors buy units in the unit trust, and the trust invests in a portfolio of listed securities.

A unit trust is similar to an open-ended investment company, except that the units in the unit trust are not themselves listed.


See also