INTERNATIONAL BANKING - ICC India
INTERNATIONAL BANKING - ICC India
INTERNATIONAL BANKING - ICC India
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UCP 600 came into effect on 1 July 2007 and contains significant changes including:<br />
• A reduction in the number of articles from 49 to 39;<br />
• New articles on "Definitions" and "Interpretations" to provide more clarity<br />
and precision in the rules;<br />
• The replacement of the phrase "reasonable time" for acceptance or refusal<br />
of documents by a firm period of five banking days;<br />
• New provisions which allow for the discounting of deferred payment credits;<br />
• A definitive description of negotiation as “purchase” of drafts of documents<br />
UCP 600 contains within the text the 12 Articles of the eUCP, <strong>ICC</strong>’s supplement to the UCP<br />
governing presentation of documents in electronic or part-electronic form. Used by letter of<br />
credit practitioners worldwide, the Uniform Customs and Practice for Documentary Credits<br />
(UCP) are the most successful private rules for trade ever developed. Bankers, traders, lawyers,<br />
transporters, academics and all who deal with letter of credit transactions worldwide, will refer<br />
to UCP 600 on a daily basis.<br />
For More Information contact :<br />
<strong>ICC</strong> <strong>India</strong><br />
Tel : +91 11 23322472, 23738760-70 Extn : 375<br />
Email : iccindia@iccindiaonline.org<br />
<strong>ICC</strong> Uniform Customs and Practice for<br />
Documentary Credits<br />
UCP 600<br />
<strong>ICC</strong> Publication No. 600, 2006 Edition<br />
Price : Rs 2000 (Paper)<br />
Rs 5200 (Ebook)<br />
Rs 10500 (Set of 25 leaflets)
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