This document provides an overview and summary of the Uniform Customs and Practices for Documentary Credits (UCPDC600). It defines the UCPDC as the internationally recognized set of rules governing letters of credit. The document notes that the UCPDC is written into virtually every letter of credit and accepted worldwide. It then summarizes the history and purpose of the UCPDC, including that it is revised regularly by the ICC to reflect changes in banking and trade practices. Finally, it lists the 39 articles that are included in the UCPDC600.

1. PRESENTED BY:-
SMRUTHI NAIR
RIJISH CHANDRAN
TEJASVI RANGNEKAR
MEHUL SHAH

2. CONTENTS
 INTRODUCTION
DEFINATION OF UCPDC
NEED FOR CHANGE
39 ARTICLES

3. DEFINATION OF
UCPDCUCP refers to the Uniform Customs and Practices for Documentary
Credits, ICC Publication Number 600•Published by the International
Chamber of Commerce
(“ICC”)
 UCP is the internationally recognized set of rules governing the use
of letters of credit also known as documentary credits.
 UCP is written into virtually every letter of credit and accepted
worldwide (although in the United States UCC Article 5 may often be
written in as the governing law).

4. INTRODUCTION
The UCP is the work of the ICC, a private international organization
founded in 1919.
UCPDC600 came into effect on july1,2007.
The UCP rules were first published in 1933, and revised by the ICC
in 1951, 1962,1974, 1983 and 1993. The UCP 500 became effective in
1994.

5. NEED FOR CHANGE
UCP rules are regularly reviewed and updated when necessary to
reflect current banking and trade practice.
The UCP is utilized by bankers and commercial parties in more
than 175 countries.
The commercial parties, particularly banks, have developed the
techniques and methods for handling letters of credit in
international trade finance.
The UCP remain the most successful set of private rules for trade
ever developed.
Notice was taken of the considerable work that had been
completed in creating the International Standard Banking Practice .

6. 39 ARTICLES1. Application of UCP
2. Definitions
3. Interpretations
4. Credits v. Contracts
5. Documents v. Goods, Services or Performance
6. Availability, Expiry Date and Place for Presentation
7. Issuing Bank Undertaking
8. Confirming Bank Undertaking
9. Advising of Credits and Amendments
10.Amendments
11.Teletransmitted and Pre-Advised Credits and Amendments
12.Nomination
13.Bank-to-Bank Reimbursement Arrangements
14.Standard for Examination of Documents
15.Complying Presentation
16.Discrepant Documents, Waiver and Notice
17.Original Documents and Copies
18.Commercial Invoice

7. 19. Transport Document Covering at Least Two Different Modes of Transport
20. Bill of Lading
21. Non-Negotiable Sea Waybill
22. Charter Party Bill of Lading
23. Air Transport Document
24. Road, Rail or Inland Waterway Transport Documents
25. Courier Receipt, Post Receipt or Certificate of Posting
26. Shipper's Load and Count
27. Clean Transport Document
28. Insurance Document and Coverage
29. The expiry date or the last day for presentation
30. Tolerance in Credit Amount, Quantity and Unit Prices
31. Partial Drawings or Shipments
32. Instalment Drawings or Shipments
33. Hours of Presentation
34. Disclaimer on Effectiveness of Documents
35. Disclaimer on Transmission and Translation
36. Force Majeure
37. Disclaimer for Acts of an Instructed Party
38. Transferable Credits
39. Assignment of Proceeds