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ICC Commentary on UCP 600
Commentary on UCP 600 is the latest version of ICC’s universally used rules on documentary credits. Members of the Drafting Group that developed the new UCP have produced an article-by-article Commentary on the rules that came into effect on July 1, 2007.
“The aim has been to provide a Commentary that enlightens practitioners as to the thought processes behind the changes in each article and to explain why a change was introduced and, in some cases, why no change was made.” - Gary Collyer, Chair of the UCP 600 Drafting Group
Commentary on UCP 600, which reflects the Group’s personal views*, explains the rationale behind the changes in the rules and clarifies the general principles that underlie them. The Drafting Group’s Commentary on UCP 600 examines each of the 39 articles of the new UCP. Each article and sub-article is analyzed under four different topics:
  • The text of the article (or sub-article),
  • The key changes from UCP 500,
  • A commentary explaining the rationale for the new language, and
  • The cross-references to other articles in UCP 600.
  • Practical, compact and easy-to read, Commentary on UCP 600 will be a reference book of choice for students and users of the new UCP.
*Note that Commentary on UCP 600 reflects the personal views of the UCP Drafting Group. It does not necessarily reflect the views of the full ICC Banking Commission.

680E ICC Commentary on UCP 600

€45.00Price
  •  Code ISBN : 978-92-842-0015-3
     Weight : 0.4400 kgs
     Number of pages : 151
     Publishing date : 2007
     Language : English
     Format in cm : 15*25

  • Introduction

    Article 1 Application of UCP

    Article 2 Definitions

    Article 3 Interpretations

    Article 4 Credits v. Contracts

    Article 5 Documents v. Goods, Services or Performance

    Article 6 Availability, Expiry Date and Place for Presentation

    Article 7 Issuing Bank Undertaking

    Article 8 Confirming Bank Undertaking

    Article 9 Advising of Credits and Amendments

    Article 10 Amendments

    Article 11 Teletransmitted and Pre-Advised Credits and Amendments

    Article 12 Nomination

    Article 13 Bank-to-Bank Reimbursement Arrangements

    Article 14 Standard for Examination of Documents

    Article 15 Complying Presentation

    Article 16 Discrepant Documents, Waiver and Notice

    Article 17 Original Documents and Copies

    Article 18 Commercial Invoice

    Article 19 Transport Document Covering at Least Two Different Modes of Transport

    Article 20 Bill of Lading

    Article 21 Non-Negotiable Sea Waybill

    Article 22 Charter Party Bill of Lading

    Article 23 Air Transport Document

    Article 24 Road, Rail or Inland Waterway Transport Documents

    Article 25 Courier Receipt, Post Receipt or Certificate of Posting

    Article 26 “On Deck”, “Shipper’s Load and Count”, “Said by Shipper to Contain”

    and Charges Additional to Freight

    Article 27 Clean Transport Document

    Article 28 Insurance Document and Coverage

    Article 29 Extension of Expiry Date or Last Day for Presentation

    Article 30 Tolerance in Credit Amount, Quantity and Unit Prices

    Article 31 Partial Drawings or Shipments

    Article 32 Instalment Drawings or Shipments

    Article 33 Hours of Presentation

    Article 34 Disclaimer on Effectiveness of Documents

    Article 35 Disclaimer on Transmission and Translation

    Article 36 Force Majeure

    Article 37 Disclaimer for Acts of an Instructed Party

    Article 38 Transferable Credits

    Article 39 Assignment of Proceeds

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