This document discusses letter of credit and the Uniform Customs and Practice (UCP) standards. It provides an overview of UCP 600, including its structure and major changes from UCP 500. UCP helps facilitate international trade by standardizing procedures. UCP 600 is the 6th revision released in 2007 to address issues with UCP 500 and aims to reduce documentary rejections through clearer definitions, interpretations, and requirements. The conclusion states UCP 600 revisions are an improvement but time will tell if it achieves the goal of fewer rejections. Traders are advised to have clear sale contracts.