U CP 6 0 0 - Ar t icle 6
Av ailabilit y , Ex piry Dat e and Place for Present at ion
a . A credit m ust st at e t he bank w it h w hich it is av ailable or w het her it is av ailable w it h any bank . A credit av ailable w it h a nom inat ed bank is also av ailable w it h t he issuing bank.
b. A credit m ust st at e w het her it is av ailable by sight pay m ent , deferred pay m ent , accept an ce or negot iat ion.
c. A credit m ust not be issued av ailable by a draf t draw n on t he applicant . d.
i. A credit m ust st at e an ex piry dat e for present at ion. An ex piry dat e st at ed f or honour or negot iat ion w ill be deem ed t o be an ex piry dat e for present at ion.
ii. The place of t he bank w it h w hich t he credit is available is t he place for present at ion. The place for present at i on under a credit av ailable w it h any bank is t hat of any bank. A place f or present at ion ot her t han
t hat of t he issuing bank is in addit ion t o t he place of t he issuing bank .
e . Ex cept as prov ided in sub- art icle 29 a , a present at ion by or on behalf of t he beneficiary m ust be m ade on or bef ore t he ex piry dat e.
U CP 6 0 0 - Ar t icle 7
I ssuing Bank Undert ak ing
a . Prov ided t hat t he st ipulat ed docum ent s are present ed t o t he nom inat ed bank or t o t he issuing bank and t hat t hey con st it ut e a com ply ing present at ion, t he issuin g bank m ust honour if t he credit is av ailable by :
i. sight pay m ent , deferred pay m ent or accept an ce w it h t he issuing bank ; ii. sight pay m ent w it h a nom inat ed bank and t hat nom in at ed bank does not pay ;
iii. deferred pay m ent w it h a nom inat ed bank and t hat nom inat ed bank does not incur it s deferred pay m ent undert ak ing or , hav ing incurred it s deferred pay m ent un dert ak ing, does not pay at m at urit y ;
iv. accept ance w it h a nom inat ed bank and t hat nom inat ed bank does not accept a draft draw n on it or, having accept ed a draft draw n on it , does not pay at m at urit y ;
v. negot iat ion w it h a nom inat ed bank and t hat nom inat ed bank does not neg ot iat e. b. An issuing bank is irrevocably bound t o honour as of t he t im e it issues t he credit .
c. An issuing bank undert akes t o reim bur se a nom inat ed bank t hat has honou red or negot iat ed a com ply ing present at i on and for w arded t he docum ent s t o t he issuing bank . Reim bursem ent for t he am ount of a
com ply ing present at ion under a credit available by accept ance or deferred pay m ent is due at m at urit y , w het her or not t he nom inat ed bank prepaid or purchased bef ore m at urit y. An issuing bank s undert ak ing t o
reim burse a nom inat ed bank is independent of t he issuing bank s undert ak ing t o t he beneficiar y.
U CP 6 0 0 - Ar t icle 8
Confirm ing Bank Undert ak ing
a . Prov ided t hat t he st ipulat ed docum ent s are present ed t o t he confirm ing bank or t o any ot her nom inat ed bank and t hat t hey const it ut e a com ply ing present at ion, t he conf irm ing bank m ust :
i. honour , if t he credit is av ailable by a . sight pay m ent , deferred pay m ent or accept ance w it h t he confirm ing bank;
b. sight pay m ent w it h anot her nom inat ed bank and t hat nom in at ed bank does not pay; c. deferred pay m ent w it h anot her n om in at ed bank and t hat nom inat ed bank does not incur it s deferred
paym ent un dert ak ing or, hav ing incurred it s deferred pay m ent undert ak ing, does n ot pay at m at urit y ;
d. accept ance w it h anot her n om inat ed bank and t hat nom inat ed bank does not accept a draf t draw n on it or, hav ing accept ed a draft draw n on it , does not pay at m at urit y;
e . negot iat ion w it h anot her nom inat ed bank and t hat nom inat ed bank does not negot iat e. ii. negot iat e, w it hout recourse, if t he credit is available by negot iat ion w it h t he confirm ing bank .
b. A conf irm ing bank is irrev ocably bound t o honour or negot iat e as of t he t im e it adds it s conf irm at ion t o t he credit .
c. A confirm ing bank undert ak es t o reim b urse an ot her n om inat ed bank t hat has honoured or neg ot iat ed a com ply ing present at ion and forw arded t he docum ent s t o t he confirm ing bank. Reim bu rsem ent f or t he
am ount of a com ply ing present at ion under a credit av ailable by accept ance or def err ed paym ent is due at m at urit y , w het her or n ot anot her nom inat ed bank prepaid or purchased before m at urit y . A confirm ing
bank s under t ak ing t o reim burse anot her nom in at ed ban k is independent of t he confirm ing bank s undert ak ing t o t he beneficiary .
d. I f a bank is aut hor ized or req uest ed by t he issuing bank t o confirm a credit but is not prepared t o do so, it m ust inform t he issuing bank w it hout delay and m ay adv ise t he credit w it hout confirm at ion.
U CP 6 0 0 - Ar t icle 9
Advising of Credit s and Am endm ent s
a . A credit and any am endm ent m ay be adv ised t o a beneficiary t hr ough an advising bank . An adv ising bank t hat is not a confirm ing bank adv ises t he credit and any am endm ent w it hout any undert aking t o honour or
negot iat e.
b. By adv ising t he credit or am endm ent , t he adv ising bank signif ies t hat it has sat isf ied it self as t o t he apparent aut hent icit y of t he credit or am endm ent and t h at t he adv ice accur at ely reflect s t he t erm s and
condit ions of t he credit or am end m ent receiv ed.
c. An adv ising bank m ay ut ilize t he services of anot her bank second adv ising bank t o adv ise t he credit and any am en dm ent t o t he beneficiary . By adv ising t he credit or am endm ent , t he second adv ising bank
signif ies t hat it has sat isf ied it self as t o t he apparent aut hent icit y of t he adv ice it has received and t hat t he advice accurat ely reflect s t he t erm s and condit ion s of t he credit or am endm ent received.
d. A bank ut ilizing t he services of an adv ising bank or second adv ising bank t o adv ise a credit m ust use t he sam e bank t o adv ise any am end m ent t heret o.
e . I f a bank is request ed t o advise a credit or am endm en t but elect s not t o do so, it m ust so inform , w it hout delay , t he bank from w hich t he credit , am endm ent or advice has been receiv ed.
f. I f a bank is request ed t o adv ise a credit or am endm en t but cannot sat isfy it self as t o t he apparent aut hent icit y of t he credit , t he am endm ent or t he adv ice, it m ust so inform , w it hout delay , t he bank fr om
w hich t he inst r uct ion s appear t o have been receiv ed. I f t he advising bank or second adv ising bank elect s nonet heless t o adv ise t he credit or am endm ent , it m ust inform t he beneficiary or second adv ising bank t hat
it has not been able t o sat isfy it self as t o t he appar ent aut hent icit y of t he credit , t he am endm ent or t he advice.
U CP 6 0 0 - Ar t icle 1 0
Am end m ent s
a . Ex cept as ot herw ise prov ided by art icle 38, a credit can neit her be am ended nor can celled w it hout t he agreem ent of t he issuing bank , t he conf irm ing bank , if any, and t he beneficiary .
b. An issuing bank is irrevocably bound by an am endm ent as of t he t im e it issues t he am end m ent . A confirm ing bank m ay ext end it s confirm at ion t o an am endm ent and w ill be irrevocably bound as of t he t im e
it adv ises t he am endm ent . A confirm ing bank m ay , how ev er , choose t o adv ise an am endm ent w it hout ex t ending it s confirm at ion and, if so, it m ust inform t he issuing bank w it hout delay and inform t he
beneficiary in it s adv ice.
c. The t erm s and condit ion s of t he original credit or a credit incorporat in g pr ev iously accept ed am end m ent s w ill rem ain in force for t he benef iciary unt il t he benef iciary com m unicat es it s accept ance of
t he am end m ent t o t he bank t hat adv ised such am endm ent . The beneficiary sh ould giv e not ificat ion of accept ance or rej ect ion of an am endm ent . I f t he benef iciary fails t o giv e such not if icat ion, a present at ion
t hat com plies w it h t he credit and t o any not yet accept ed am endm ent w ill be deem ed t o be not ificat ion of accept ance by t he beneficiary of such am endm ent . As of t hat m om ent t he credit w ill be am ended.
d. A bank t hat advises an am endm ent should inform t he bank from w hich it receiv ed t he am endm ent of any not ificat ion of accept ance or rej ect ion.
e . Part ial accept ance of an am end m ent is not allow ed and w ill be deem ed t o be not ificat ion of rej ect ion of t he am end m ent .
f. A prov ision in an am endm ent t o t he ef fect t hat t he am endm ent shall ent er int o f orce unless rej ect ed by t he beneficiary w it hin a cert ain t im e shall be disregarded.
U CP 6 0 0 - Ar t icle 1 1
Telet ran sm it t ed and Pre- Adv ised Credit s and Am endm en t s
a . An aut hent icat ed t elet ransm ission of a credit or am en dm ent w ill be deem ed t o be t he operat iv e credit or am end m ent , and any subsequent m ail confirm at ion sh all be disregarded.
I f a t elet ransm ission st at es full det ails t o follow or w ords of sim ilar effect , or st at es t hat t he m ail confirm at i on is t o be t he oper at iv e cr edit or am endm ent , t hen t he t elet ransm ission w ill not be deem ed t o be
t he operat ive credit or am endm ent . The issuing bank m ust t hen issue t he oper at iv e credit or am endm ent w it hout delay in t erm s not inconsist ent w it h t he t elet ransm ission.
b. A prelim inary advice of t he issuance of a credit or am endm ent pre- adv ice shall only be sent if t he issuing bank is pr epared t o issue t he operat iv e credit or am endm ent . An issuing bank t hat send s a pre-
advice is irrevocably com m it t ed t o issue t he operat iv e cr edit or am endm ent , w it hout delay, in t erm s not incon sist ent w it h t he pre- adv ice.
U CP 6 0 0 - Ar t icle 1 2
Nom inat ion
a . Unless a nom inat ed bank is t he conf irm ing bank , an aut horizat ion t o honour or neg ot iat e does not im pose any obligat ion on t hat n om inat ed bank t o honour or neg ot iat e, ex cept w hen ex pressly agreed t o by t hat
nom in at ed bank and so com m u nicat ed t o t he beneficiary .
b. By nom inat i ng a bank t o accept a draft or incur a deferred pay m ent undert aking, an issuing bank aut horizes t hat nom in at ed bank t o prepay or purchase a draft accept ed or a def err ed paym ent undert ak ing
incurred by t hat nom inat ed bank .
c. Receipt or exam inat ion and f or w ardi ng of docum ent s by a nom inat ed bank t hat is not a confirm ing bank does not m ak e t hat nom inat ed bank liable t o honour or negot iat e, nor does it const it ut e h onour or
negot iat ion.
U CP 6 0 0 - Ar t icle 1 3
Bank - t o- Bank Reim bur sem ent Arrangem ent s
a . I f a credit st at es t hat reim bur sem ent is t o be obt ained by a nom inat ed bank claim ing bank claim ing on anot her part y reim bursing bank , t he credit m ust st at e if t he reim bursem ent is subj ect t o t he I CC
rules f or bank- t o- bank r eim bur sem ent s in ef fect on t he dat e of issuance of t he credit .
b. I f a credit does not st at e t hat reim bur sem ent is subj ect t o t he I CC r ules for bank - t o- bank reim bursem ent s, t he follow ing apply :
i.An issuing bank m ust provide a reim bur sing bank w it h a reim bursem ent aut horizat ion t hat confor m s w it h t he av ailabilit y st at ed in t he credit . The r eim bursem ent aut hor izat ion should not be subj ect t o an ex piry
dat e.
ii.A claim ing bank shall not be required t o supply a reim bur sing bank w it h a cert if icat e of com pliance w it h t he t erm s and condit ion s of t he credit .
iii.An issuing bank w ill be responsible f or any loss of int erest , t oget her w it h any expenses incurr ed, if reim bursem ent is not prov ided on first dem and by a reim bursi ng bank in accordan ce w it h t he t erm s and
condit ions of t he credit .
iv.A reim bu rsing bank s charges are for t he accou nt of t he issuing bank . How ev er, if t he charges are for t he account of t he beneficiary , it is t he respon sibilit y of an issuing bank t o so indicat e in t he credit and in t he
reim bursem ent aut hori zat ion. I f a reim bursing bank s ch ar ges are for t he account of t he beneficiary, t hey shall be deduct ed from t he am ount due t o a claim ing bank w hen reim bur sem ent is m ade. I f no
reim bursem ent is m ade, t he reim bu rsing bank s charges rem ain t he obligat ion of t he issuing bank .
c. An issuing bank is not relieved of any of it s obligat ions t o prov ide reim bursem ent if reim bursem ent is not m ade by a reim bursing bank on f irst dem and.
U CP 6 0 0 - Ar t icle 1 4
St andard for Ex am inat ion of Docum ent s
a . A nom inat ed bank act ing on it s nom inat ion, a confirm ing bank , if any , and t he issuing bank m ust ex am ine a present at ion t o det erm ine, on t he basis of t he docum ent s alone, w het h er or not t he docum ent s appear on
t heir face t o const it ut e a com ply ing present at ion.
b. A nom inat ed bank act ing on it s nom inat ion, a confirm ing bank, if any , and t he issuing bank sh all each have a m ax im u m of fiv e banking day s follow ing t he day of pr esent at ion t o det er m ine if a present at ion is
com ply ing. This period is not curt ailed or ot herw ise af fect ed by t he occurren ce on or aft er t he dat e of present at i on of any ex piry dat e or last day for present at ion.
c. A present at ion including one or m ore original t ran spor t docum ent s su bj ect t o art icles 19, 20, 2 1, 22, 23, 24 or 2 5 m ust be m ade by or on behalf of t he beneficiary not lat er t han 21 calendar day s af t er t he dat e of
shipm ent as described in t hese rules, but in any ev ent not lat er t han t he ex piry dat e of t he credit .
d. Dat a in a docum ent , w hen read in cont ex t w it h t he cr edit , t he docum ent it self and int ernat ion al st andard bank ing pract ice, need n ot be ident ical t o, but m ust not conflict w it h, dat a in t hat docum ent , any ot her
st ipulat ed docum ent or t he credit .
e . I n docum ent s ot her t han t he com m ercial inv oice, t he descript ion of t he goods, serv ices or perform an ce, if st at ed, m ay be in general t erm s not conflict ing w it h t heir descript ion in t he credit .
f. I f a credit requires present at ion of a docum ent ot her t han a t ransport docum ent , insur ance docum ent or com m ercial inv oice, w it hout st ipulat ing by w hom t he docum ent is t o be issued or it s dat a cont ent , bank s w ill
accept t he docum ent as present ed if it s cont ent appears t o f ulfil t he funct ion of t he required docu m ent and ot herw ise com plies w it h sub- art icle 14 d .
g. A docu m ent pr esent ed but not required by t he credit w ill be disregarded and m ay be ret urned t o t he present er.
h . I f a credit cont ains a con dit ion w it hout st ipulat ing t he docum ent t o indicat e com pliance w it h t he condit ion, bank s w ill deem such condit ion as n ot st at ed and w ill disregard it .
i. A docum ent m ay be dat ed prior t o t he issuance dat e of t he credit , but m ust not be dat ed lat er t han it s dat e of present at ion.
j . When t he addresses of t he benef iciary and t he applicant appear in any st ipulat ed docu m ent , t hey need not be t he sam e as t h ose st at ed in t he credit or in any ot her st ipulat ed docum ent , but m ust be w it hin t he
sam e count ry as t he respect iv e addresses m ent ion ed in t he credit . Cont act det ails t elefax , t elephone, em ail
and t he lik e st at ed as part of t he beneficiary s and t he applicant s addr ess w ill be disregarded. How ever, w hen t he address and cont act det ails of t he applicant appear as par t of t he consignee or not ify part y det ails
on a t ransp ort docum ent subj ect t o art icles 19, 2 0, 21, 22, 23, 24 or 25, t hey m ust be as st at ed in t he credit .
k . The shipper or consign or of t he goods indicat ed on an y docum ent need not be t he benef iciary of t he credit .
l. A t ransport docum ent m ay be issued by any part y ot h er t han a carrier , ow ner , m ast er or chart erer prov ided t hat t he t ransport docum ent m eet s t he requirem ent s of art icles 19, 2 0, 21, 22, 23 or 24 of t hese
rules.
U CP 6 0 0 - Ar t icle 1 5
Com plying Present at ion
a . When an issuing bank det er m ines t hat a present at ion is com ply ing, it m ust honour. b. When a confir m ing bank det erm ines t hat a pr esent at ion is com ply ing, it m ust honour or negot iat e and
f orw ard t he docu m ent s t o t he issuing bank.
c. When a nom inat ed bank det erm in es t hat a present at ion is com ply ing and h on our s or negot iat es, it m ust f orw ard t he docu m ent s t o t he confirm ing bank or issuing bank.
U CP 6 0 0 - Ar t icle 1 6
Discrepant Docum ent s, Waiver and Not ice
a . When a nom in at ed bank act ing on it s nom inat ion, a conf irm ing bank , if any, or t he issuing bank det erm ines t hat a present at ion does not com ply , it m ay refuse t o hon our or negot iat e.
b. When an issuing bank det erm ines t hat a present at ion does not com ply , it m ay in it s sole j udgem ent approach t he applicant for a w aiv er of t he discr epancies. This does n ot , how ev er, ex t end t he period
m ent ioned in sub- art icle 14 b .
c. When a nom inat ed bank act ing on it s nom inat ion, a confirm ing bank , if any , or t he issuing bank decides t o r efuse t o honour or neg ot iat e, it m ust giv e a single not ice t o t hat effect t o t he present er.
The not ice m u st st at e:
i. t hat t he bank is refusing t o honour or neg ot iat e; and ii. each discrepancy in respect of w hich t he bank refuses t o honour or negot iat e; and
iii.
a t hat t he bank is holding t he docu m ent s pen ding furt h er inst ruct ions from t he present er; or b t hat t he issuing bank is holding t he docum ent s unt il it receives a w aiver f rom t he applicant and agrees t o
accept it , or receives furt her inst ru ct ion s from t he present er prior t o agreeing t o accept a w aiv er; or c t hat t he bank is ret urning t he docum ent s; or
d t hat t he bank is act ing in accordance w it h inst ru ct ions prev iously receiv ed fr om t he present er.
d. The not ice r equired in sub- art i cle 16 c m ust be giv en by t elecom m u nicat ion or, if t hat is not possible, by ot her expedit iou s m ean s no lat er t han t he close of t he f ift h bank ing day follow ing t he day of present at ion.
e . A nom inat ed bank act ing on it s nom inat ion, a confirm ing bank , if any , or t he issuing bank m ay , aft er prov iding not ice r equired by sub- ar t icle 16 c iii a or b , ret urn t he docum ent s t o t he present er at any
t im e.
f. I f an issuing bank or a conf irm ing bank fails t o act in accordan ce w it h t he prov ision s of t his art icle, it shall be precluded from claim ing t hat t he docum ent s do not const it ut e a com plying present at ion.
g. When an issuing bank refuses t o hon our or a confirm ing bank r ef uses t o honour or negot iat e an d has giv en not ice t o t hat ef fect in accordan ce w it h t his art icle, it shall t hen be ent it led t o claim a refund, w it h
int erest , of any reim bursem ent m ade.
U CP 6 0 0 - Ar t icle 1 7
Original Docum ent s and Copies
a . At least one original of each docu m ent st ipulat ed in t he credit m ust be present ed. b. A bank shall t reat as an original any docu m ent bearin g an apparent ly original signat ure, m ark , st am p, or
label of t he issuer of t he docum ent , unless t he docum ent it self indicat es t hat it is not an original.
c. Unless a docum ent indicat es ot h erw ise, a bank w ill also accept a docum ent as original if it : i. appears t o be w rit t en, t yped, perforat ed or st am ped b y t he docum ent issuer s hand; or
ii. appears t o be on t he docum ent issuers original st at ionery ; or iii. st at es t hat it is or iginal, unless t he st at em ent appear s not t o apply t o t he docum ent present ed.
d. I f a credit requires present at ion of copies of docu m ent s, present at ion of eit her originals or copies is perm it t ed.
e . I f a credit requires pr esent at ion of m ult iple docum ent s by using t erm s su ch as in duplicat e , in t w o f old or in t w o copies , t his w ill be sat isfied by t he present at ion of at least one original and t he rem aining
num ber in copies, ex cept w hen t he docum ent it self indicat es ot herw ise.
U CP 6 0 0 - Ar t icle 1 8
Com m er cial I nv oice
a . A com m er cial inv oice: i. m ust appear t o hav e been issued by t he beneficiary ex cept as pr ov ided in art icle 38 ;
ii. m ust be m ade out in t he nam e of t he applicant ex cept as provided in sub- ar t icle 38 g ; iii. m ust be m ade out in t he sam e curren cy as t he credit ; and
iv. need not be signed. b. A nom inat ed bank act ing on it s nom inat ion, a confirm ing bank , if any , or t he issuing bank m ay accept a
com m ercial inv oice issued for an am ount in excess of t he am ount per m it t ed by t he cr edit , and it s decision w ill be binding upon all part ies, provided t he bank in quest ion has not honoured or negot iat ed for an am ou nt
in ex cess of t hat perm it t ed by t he credit .
c. The descript ion of t he goods, serv ices or perfor m ance in a com m er cial inv oice m u st correspond w it h t hat appearing in t he credit .
U CP 6 0 0 - Ar t icle 1 9
Transp ort Docum ent Cov eri ng at Least Tw o Different Modes of Tran sport
a . A t ransport docu m ent cov ering at least t w o differ ent m odes of t ransport m ult im odal or com bined t r ansp ort docum ent , how ev er nam ed, m ust appear t o:
i. indicat e t he nam e of t he carrier and be signed by :
