UCPDC ARTICLE 8-9 ARTICLE 8:Confirming Bank Undertaking. a Provided that the stipulated documents are presented to the issuing bank or to any other nominated bank and that they constitute a complying presentation, the confirming bank must: i. honour, if the credit is available by a) sight payment, deferred payment or […]
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UCPDC ARTICLE 5-7
UCPDC Article 5-7 ARTICLE 5 : Documents V. Goods, Services or Performance Banks deal with documents and not with goods, services or performance to which the credit may relate. ARTICLE 6 : Availability, Expiry Date and Place for presentation a. A credit must state the bank with which it is […]
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UCPDC ARTICLE 4 UCPDC ARTICLE 4 CREDITS V. CONTRACTS: a. A credit by its nature is a separate transaction from the sale or other contract on which it may be based. Banks are in no way concerned with or bound by such contract, even if any reference whatsoever to it is included […]
Read moreUCPDC ARTICLE 3: INTERPRETATIONS
UCPDC ARTICLE 3: INTERPRETATIONS For the purpose of these rules: Where applicable, words in the singular include the plural and in the plural include the singular. A credit is irrevocable even if there is no indication to that effect. A document may be signed by handwriting, facsimile signature, perforated signature, stamp, symbol […]
Read moreUCPDC Article 2: Definitions
UCPDC Article 2: Definition For the purpose of these rules: Advising bank means the bank that advises the credit at the request of the issuing bank.Applicant means the party on whose request the credit is issued. Banking day means a day on which a bank is regularly open at the […]
Read moreUCPDC 600 ARTICLE 36-39
UCPDC 600 ARTICLE 36-39 ARTICLE 36 : Force Majeure A bank assumes no liability or responsibility for the consequences arising out of the interruption of its business by Acts of God, riots, civil commotions, insurrections, wars, acts of terrorism or by any strikes or lockouts or any other causes beyond […]
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UCPDC 600 ARTICLE 31-35
UCPDC 600 ARTICLE 31-35 ARTICLE 31 : Partial Drawings or Shipments a. Partial drawings or shipments are allowed. b. A presentation consisting of more than one set of transport documents Evidencing shipment commencing on the same means of conveyance and for the same journey, provided they indicate the same destination, […]
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UCPDC 600 ARTICLE 25-30
UCPDC 600 ARTICLE 25-30 ARTICLE 25: Courier Receipt, Post Receipt or Certificate of Posting A courier receipt, however named, evidencing receipt of goods for transport, must appear to: i. indicate the name of the courier service and be stamped of signed by the named courier service at the place from […]
Read moreUCPDC 600 ARTICLE 24
UCPDC 600 ARTICLE 24 ARTICLE 24: Road, Rail or Inland Waterway Transport Documents A road, rail or inland waterway transport document, however named, must appear to: i. indicate the name of the carrier and: • be signed by the carrier or a named agent for or on behalf of the […]
Read moreUCPDC 600 ARTICLE 22-23
UCPDC 600 ARTICLE 22-23 ARTICLE 22 : Charter Party Bill of Lading A bill of lading , however named, containing an indication that it is subject to a charter party (charter party bill of lading), must appear to: i. be signed by: • the master or a named agent for […]
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UCPDC 600 ARTICLE 20-21
UCPDC 600 ARTICLE 20-21 ARTICLE 20 : Bill of Lading A bill of lading however named, must appear to: i. indicate the name of the carrier and be signed by: •the carrier or a named agent for or on behalf of the carrier or •the master or a named agent […]
Read moreUCPDC 600 ARTICLE 18-19
UCPDC 600 ARTICLE 18-19 ARTICLE 18: Commercial Invoice a. A commercial invoice: i. must appear to have been issued by the beneficiary (except as provided in article 38) ii. must be made out in the name of the applicant (except as provided in article 38 ( g ) ); iii. […]
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UCPDC 600 Bangla What is UCPDC 600 What 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) … Short Question UCPDC 600 Short Question UCPDC 600 Question:01 What is […]
Read moreUCPDC 600 ARTICLE 15-17
UCPDC 600 ARTICLE 15-17 ARTICLE 15:Complying Presentation a. When an issuing bank determines that a presentation is complying, it must honour. b. When a confirming bank determines that a presentation is complying, it must honour or negotiate and forward the documents to the issuing bank. c. When a nominated bank […]
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UCPDC 600 ARTICLE 12-14
UCPDC 600 ARTICLE 12-14 ARTICLE 12:Nomination a. Unless a nominated bank is the confirming bank, an authorization to honour or negotiate does not impose any obligation on that nominated bank to honour or negotiate, except when expressly agreed to by that nominated bank and so communicated to the beneficiary. b. By […]
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