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 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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UCPDC ARTICLE 10-11
UCPDC ARTICLE 10-11 ARTICLE 10: Amendments a. Except as otherwise provided by article 38, a credit can neither be amended nor cancelled without the agreement of the issuing bank, the confirming bank, if any, and the beneficiary. b. An issuing bank is irrevocably bound by an amendment as of the […]
Read moreUCPDC ARTICLE 1
UCPDC ARTICLE 1 UCPDC ARTICLE 1 Application of UCP The Uniform Customs and Practice for Documentary Credits, 2007 Revision, ICC Publication No. 600 (“UCP”) are rules that apply to any documentary credit (“credit”) (including to the extent to which they may be applicable, any standby letter of credit) when the […]
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