UCP 600

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UCP 600

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UCP 600

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Author ICC
Published 2007
ICCproduct code 600

UCP 600 is available in booklet and leaflet form (as a set of 25 leaflets)

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

UCP 600 enters into force on July 1, 2007 and contains substantive changes to the existing rules traders, trade finance practitioners, and trade services professionals will need to know.

New Provisions

  • a leaner set of rules, with 39 articles rather than 49 articles of UCP 500;
  • a new section of Definitions, containing terms such as honour and negotiation
  • a replacement of the term reasonable time with a definite number of days for examining and determining compliance of documents
  • a new provision concerning addresses of the beneficiary and the applicant
  • an expanded discussion of original documents
  • re-drafted transport articles aimed at resolving confusion over the identification of carriers and agents

The new UCP 600 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.

Related Publications:

Insights into UCP 600

Insights into UCP 600

Commentary on UCP 600

Commentary on UCP 600

Online Shop | International Chamber of Commerce (ICC) Publications  | Letters of Credit - UCP 600 Series |  UCP 600

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