What are the Articles of URR 725? Page 1 of 17 The Uniform Rules for Bank-to-Bank Reimbursements under Documentary Credits (URR-725) (Effective date: 01 October 2008) Page 2 of 17 Changes made in URR 725 URR 725 should not be seen as a revision of URR 525. It is an updating process that […]
Read moreWhat is UCPDC 600 UCPDC 600 is the latest version of the rules that govern letters of credit transactions worldwide. UCPDC 600 is prepared by International Chamber of Commerce’s (ICC) Commission on Banking Technique and Practice. Its full name is 2007 Revision of Uniform Customs and Practice for Documentary Credits, […]
Read moreShort Question UCPDC 600 Question:01 What is UCPDC ? Ans:Uniform Customs and Practice for Documentary Credits Question:02 How many Articles in UCPDC 600 ? Ans: 39 Articles Question:03 What is the title of Article 01 UCPDC 600 ? Ans:Application of UCP Question:04 What is the title […]
Read moreSignificant Changes in UCPDC-600 Significant Changes in UCPDC-600 Compared with Publication no. 500 ******* #Article :1 :It has been expressly indicated that UCP600 contains rules. # :2 :All the parties including Banks and Clients have been categorically defined. Also different terminologies have been clarified. # :3: :All the interpretations […]
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International Chamber of Commerce (ICC) Established: In 1919 International Chamber of Commerce (ICC) Objectives : To serve world business by promoting trade and investment, open markets for goods and services, and the free flow of capital. ICC First President : Mr. Etienne Clementel, a former French minister of Commerce. […]
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URR 725 URR 725 is the acronym of Uniform Rules for Bank-to-Bank Reimbursements. UNIFORM RULES FOR BANK-TO-BANK REIMBURSEMENTS APPROVED ON 15-16.04.2008. IN FORCE SINCE 01/10/2008 Table of Contents of URR 725 URR 725 – Article 1 Application of URR URR 725 – Article 2 Definitions URR 725 – Article 3 […]
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