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 You are here:   >> The documentary credits UCP Ucp600 in English full text >> The body of
The documentary credits UCP Ucp600 in English full text
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Scope of application of UCP article
The documentary credits UCP revision--2007 years, of the International Chamber of Commerce publication No. 600 ("UCP") is a set of rules that applies to all of its text clearly indicates that the present rules for documentary credits (hereinafter referred to as the letter of credit) (within its scope of application, including standby letters of credit. ) Unless expressly modified or excluded, this practice the provisionsof the letter of credit shall be binding to all parties.
Article II definitions
Purposes of this practice
Advising bank means the Bank upon the request of the issuing bank to advise a credit.
Refers to the request of the applicant party to open a letter of credit.
Banking day refers to the Bank in its implementation subject to these rules of conduct stations are usually open day.
Beneficiary refers to a letter of credit and to enjoy the benefits of their party.
Complying presentation means the terms and conditions of, these articles of the applicable provisions and the presentation of international standard banking practice.
Confirming refers to the confirming bankin addition to the commitment of the issuing bank to honour or negotiate a complying presentation of firm commitment.
Confirming bank means the issuing bank authorizes or requires Bank of letter of credit confirmation.
An irrevocable credit means any arrangement, however named or described, that the arrangement constitutes an issuing bank to determine the delivery of complying commitments.
Commitment means:
A. If the credit is available by sight payment letter of credit is payable.
B. If the credit is available by deferred payment, deferred payment commitment and maturity.
C. If a credit acceptance credit, beneficiaries out of acceptance Bill of Exchange and Bill of Exchange due date of payment.
Issuing bank means the request of an applicant or documentary credit issued by banks on their behalf.
Negotiation means under the designated banks in complying, Bank business days in its reimbursement is on or before the advancing or agreeing to advance funds to the beneficiaries, so as to purchase money orders (drawn on banks other than the designated bank) and/or documents.
Nominated Bank means credit available with the Bank, such as a credit available with any Bank, any bank in the banks.
P points to the issuing bank or nominated bank or credit under the Act, or that thedocuments presented in this manner.
Single refers to commit a single act or a beneficiary, Bank or any other person.
Article explains
Purposes of this Convention:
Where applicable, words in the singular include the plural and in the plural includethe singular.
Letter of credit is irrevocable, even if not so indicated.
Document may be signed by handwriting, facsimile signature, perforated signature, stamp, symbol or any other mechanical or electronic method of authentication.
document to be legalized, visaed, certified or similar requirements may be made by any documents seems to meet the requirements of the signature, mark, stamp or label to meet.
Branches of a bank in different countries are considered different banks.
Such as "first class", "famous", "qualified", "independent", "official", "qualified" or "local" terms when describing the documents of single, allow anyone other than thebeneficiary issued the document.
Unless required to be used in the document, such as "prompt", "immediately" or"as soon as possible, the words" will be disregarded.
"On or about the (onabout)" or similar terms shall be deemed provided event occurs on the specified date or within five calendar days between, all dates inclusive."To (to)", "(until, and till)," "... ... Start () "and" ... ... Between (and between) ", the word is used to determine the date of shipment dates referred to at the time, the use of" ... ... Before (before) "and" ... ... Later (after)"the dates mentioned are not included.
"... ... Start () "and" ... ... Later (after) ", the word is used to determine the expirationdate without date references.
"The first half" and "second half" means the first day of a month to the 15th day and the 16th to the last day of the month, all dates inclusive account.
A month of "starting (beginning)", "intermediate (middle)" and "end (end)" means the first to the tenth day, the 11th to 20th and the 21st to the last day of the month,all dates inclusive account.
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