Uniform Customs and Practice for Documentary Credits

E302886

The Uniform Customs and Practice for Documentary Credits is a globally recognized set of rules governing letters of credit in international trade finance, published and maintained by the International Chamber of Commerce.

All labels observed (4)

Label Occurrences
Uniform Customs and Practice for Documentary Credits canonical 3
UCP 500 2
UCP 400 1

How this entity was disambiguated

Statements (48)

Predicate Object
instanceOf ICC rulebook ⓘ
earlier version of Uniform Customs and Practice for Documentary Credits ⓘ
set of rules ⓘ
trade finance standard ⓘ
version of Uniform Customs and Practice for Documentary Credits ⓘ
appliesTo international trade finance ⓘ
bindingWhen incorporated into the credit ⓘ
characteristic applies when expressly incorporated into the credit text ⓘ
non-statutory but widely accepted ⓘ
contains articles defining obligations of applicants ⓘ
articles defining obligations of beneficiaries ⓘ
articles defining obligations of confirming banks ⓘ
articles defining obligations of issuing banks ⓘ
defines rules on discrepancies in documents ⓘ
rules on expiry and place of presentation ⓘ
rules on presentation of documents ⓘ
standards for examination of documents ⓘ
developedBy ICC Banking Commission ⓘ
effectiveFrom 1 July 2007 ⓘ
governs documentary credits ⓘ
letters of credit ⓘ
jurisdiction international ⓘ
language English ⓘ
latestVersionName UCP 600 ⓘ
legalNature contractual rules ⓘ
maintainedBy International Chamber of Commerce ⓘ
objective harmonize global banking practice for letters of credit ⓘ
previousVersion UCP 400 ⓘ
UCP 500 ⓘ
publishedBy International Chamber of Commerce ⓘ
purpose reduce legal uncertainty in letter of credit transactions ⓘ
standardize practices for documentary credits ⓘ
relatedTo Incoterms ⓘ
linked to: Incoterms rules

International Standard Banking Practice ⓘ
Uniform Rules for Collections ⓘ
replaced UCP 500 ⓘ
scope commercial documentary credits ⓘ
standby letters of credit when expressly incorporated ⓘ
sector banking ⓘ
international trade law ⓘ
shortName UCP ⓘ
translatedInto multiple languages ⓘ
usedBy applicants for letters of credit ⓘ
beneficiaries of letters of credit ⓘ
commercial banks ⓘ
confirming banks ⓘ
issuing banks ⓘ
usedIn cross-border trade transactions ⓘ

How these facts were elicited

Referenced by (7)

Full triples — surface form annotated when it differs from this entity's canonical label.

International Chamber of Commerce → setsStandard → Uniform Customs and Practice for Documentary Credits ⓘ
International Chamber of Commerce → publishes → Uniform Customs and Practice for Documentary Credits ⓘ
subject linked to: ICC
Uniform Customs and Practice for Documentary Credits → latestVersionName → UCP 600 ⓘ
linked to: Uniform Customs and Practice for Documentary Credits
UCP 600 → replaced → UCP 500 ⓘ
linked to: Uniform Customs and Practice for Documentary Credits
Uniform Customs and Practice for Documentary Credits → previousVersion → UCP 500 ⓘ
linked to: Uniform Customs and Practice for Documentary Credits
Uniform Customs and Practice for Documentary Credits → previousVersion → UCP 400 ⓘ
linked to: Uniform Customs and Practice for Documentary Credits
Uniform Rules for Demand Guarantees → relatedTo → Uniform Customs and Practice for Documentary Credits ⓘ