Payment instrumentsucp-600
UCP 600
The ICC rules governing documentary letters of credit; the standard a presentation is examined against.
UCP 600 (Uniform Customs and Practice for Documentary Credits, 2007 revision) is the ICC rulebook banks use to examine documents presented under a letter of credit. It defines a complying presentation, the document-examination standard (Article 14), on-board notation (Article 20), and more. OilFlow's free LC discrepancy checker screens a presentation against the UCP 600 rules. Not a substitute for a documentary examiner.
Frequently asked
- What does UCP 600 mean in oil and commodity trading?
- The ICC rules governing documentary letters of credit; the standard a presentation is examined against.
- How do I check a counterparty that uses UCP 600 in a deal?
- The term itself is not enough to clear or condemn a deal. What matters is the counterparty behind the pitch. Screen that name for free against OilFlow's first-party fraud-cluster corpus in seconds, and confirm identity documents and banking details independently before you transact.
See also
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