eUCP 2.1 – Uniform Customs and Practice for Documentary Credits for Electronic Presentation Version 2.1

eUCP 2.1 or the Uniform Customs and Practice for Documentary Credits for Electronic Presentation Version 2.1 is a supplement to the UCP 600. It was published by the International Chamber of Commerce (ICC) in order to accommodate presentation of electronic records under a letter of credit. The eUCP 2.1 applies to a letter of credit when the credit specifies that it is subject to the eUCP 2.1. Under an eUCP credit, we can have two types of presentations:

  1. Both paper documents and electronic records
  2. Only electronic records

It is important to note that a letter of credit subject to eUCP 2.1 is also subject to UCP 600 by default. There is no need for it to be expressly indicated in the credit. The provisions of eUCP will be applicable to the extent to which application of eUCP produces a result different from the application of UCP.

eUCP Latest Version

eUCP 2.1 is the latest version of eUCP.  It came into effect from 1 July 2023.

History of eUCP

The history and development of eUCP starting from the first version to the latest version is detailed below:

eUCP – 31 March 2002

eUCP 1.1 – 2007

eUCP 2.0 – July 2019

eUCP 2.1 – 1 July 2023

eUCP 2.1 Articles

There are 14 articles in eUCP 2.1, which are as given below:

Article e1 Scope of the Uniform Customs and Practice for Documentary Credits (UCP 600) Supplement for Electronic Presentations (“eUCP”)
Article e2 Relationship of the eUCP to the UCP
Article e3 Definitions
Article e4 Electronic Records and Paper Documents v. Goods, Services or Performance
Article e5 Format
Article e6 Presentation
Article e7 Examination
Article e8 Notice of Refusal
Article e9 Originals and Copies
Article e10 Date of Issuance
Article e11 Transport
Article e12 Data Corruption of an Electronic Record
Article e13 Additional Disclaimer of Liability for Presentation of Electronic Records under eUCP
Article e14 Force Majeure

Electronic Records and Paper Documents under eUCP 2.1

An electronic record is a document created and presented via electronic means. A credit subject to eUCP must specify the format in which each electronic record is to be presented. If the format of an electronic record is not specified in the credit, the beneficiary may present that electronic record in any format. Electronic records under an eUCP credit may be presented separately and need not be presented at the same time. Each presentation of an electronic record under eUCP must mention or identify the letter of credit number for which presentation is being made. Each electronic record must also mention its date of issuance.

A paper document is a document presented in paper form.

Presentation of both electronic records and paper documents is possible under a letter of credit subject to eUCP. If a credit subject to eUCP allows the beneficiary to choose between presentation of either electronic records or paper documents and the beneficiary chooses to present only paper documents, then the eUCP will not apply. For such a credit, only UCP will be applicable.

What is a Notice of Completeness under eUCP?

Notice of completeness” is a notice sent by the beneficiary to the bank to which documents are being presented to inform that the presentation is complete.

eUCP allows the beneficiary to present the electronic records separately. If there are four electronic records to be submitted, the beneficiary may submit the same on four different days. Also if there are paper documents involved, these documents may also be presented separately. So, in an eUCP credit, the presenter has to provide a “notice of completeness” to the nominated bank, confirming bank or to the issuing bank where the presentation is made. This is something unique only to credits subject to eUCP. Until the notice of completeness is received, the bank receiving the documents or electronic records will not consider the presentation to have been made. The period for examination of documents will commence only after the notice of completeness is received.

The notice of completeness may be provided either as an electronic record or as a paper document and must identify the letter of credit number for which it is presented.

A notice of completeness is not required to be submitted by a nominated bank while forwarding the electronic records to a confirming bank or an issuing bank.

Comparison between UCP 600 and eUCP 2.1

eUCP 2.1 pdf

Please click on the below link to download a copy of eUCP 2.1

eUCP 2.1 pdf

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