In this post we are going to discuss about the words Must, May and Should in UCP 600. This is an interesting aspect of UCP 600, the rules that govern issuances of letters of credit, all over the world. We’ll not discuss any specific topic or any article. Rather, this topic is about the UCP … Read more
A Bill of Lading commonly referred to as BL is a transport document covering port to port shipment. A Bill of lading is also a document of title. As per UCP 600 article 20, A bill of lading may be “however named”. This means that a bill of lading need not be necessarily named “bill … Read more
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 … Read more
UCP 600 stands for “Uniform Customs and Practice for Documentary Credits, 600.” It is a set of rules published by the International Chamber of Commerce (ICC) that govern the use of documentary credits in international trade. A documentary credit or a letter of credit is a financial instrument that acts as a guarantee of payment … Read more
