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  • Ucpdc 600 Rules

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    easin07
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    The document outlines various articles related to letters of credit and the Uniform Customs and Practice for Documentary Credits (UCP). It begins with common definitions for terms related to letters of credit and parties involved. It then discusses the interpretation of terms used and how letters of credit differ from general contracts. Following this, it lists and provides high-level descriptions for 36 articles that cover topics like the obligations of issuing and confirming banks, amendments, discrepancies, transport documents, insurance documents, expiration dates and more. The document provides an overview of the key topics and issues addressed in the UCP.

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    The document outlines various articles related to letters of credit and the Uniform Customs and Practice for Documentary Credits (UCP). It begins with common definitions for terms related to letters of credit and parties involved. It then discusses the interpretation of terms used and how letters of credit differ from general contracts. Following this, it lists and provides high-level descriptions for 36 articles that cover topics like the obligations of issuing and confirming banks, amendments, discrepancies, transport documents, insurance documents, expiration dates and more. The document provides an overview of the key topics and issues addressed in the UCP.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as DOC, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    Download as doc, pdf, or txt
    237 views2 pages

    Ucpdc 600 Rules

    Uploaded by

    easin07
    The document outlines various articles related to letters of credit and the Uniform Customs and Practice for Documentary Credits (UCP). It begins with common definitions for terms related to letters of credit and parties involved. It then discusses the interpretation of terms used and how letters of credit differ from general contracts. Following this, it lists and provides high-level descriptions for 36 articles that cover topics like the obligations of issuing and confirming banks, amendments, discrepancies, transport documents, insurance documents, expiration dates and more. The document provides an overview of the key topics and issues addressed in the UCP.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as DOC, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    Download as doc, pdf, or txt
    of 2

    Article 1: Application of UCP

    Article 2: Definitions

    Common definition of -
    Advising Bank
    Applicant
    Banking Day
    Beneficiary
    Complying Presentation
    Confirmation
    Confirming Bank
    Credit
    Honour
    Issuing Bank
    Negotiation
    Nominated Bank
    Presentation
    Presenter

    Article 3: Interpretation

    Interpretation of words such as 'first class', 'qualified', 'well known', 'official', 'competent',
    'independent', 'local', 'prompt', 'immediately', 'as soon as possible', 'on or about', 'to', 'until', 'till',
    'between', 'from', 'before', 'after', 'first half', 'second half', 'middle', 'beginning', 'end', etc and its
    effects.

    Article 4: Credit 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: Tele transmitted 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 of 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: Installment 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.

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