Uniform Customs and Paractice

The UCP 600 (“Uniform Customs & Practice for Documentary Credits”) is the official publication issued by the ICC (International Chamber of Commerce). The UCP provisions have determined the rules of engagement between the various parties to a LC (Letter of Credit) and in particular between the banks involved in a transaction in some capacity.

UCP provisions have formed the backbone of Letter of Credit transactions for many years and facilitated the growth of international trade between counter parties across the globe..