History :
Process of creating rules for letters of credit started in 1927First rules created in 1933 with the introduction of the Uniform Customs and Practice forCommercial Documentary Credits (Brochure 82) Worlds best example of private rulemaking
Rules :
Uniform Customs and Practice for Documentary Credits (UCP) (Publication 500)Uniform Rules for Bank-to-Bank Reimbursements Under Documentary Credits (URR) (Publication 525)Supplement to the Uniform Customs and Practice for Documentary Credits for Electronic Presentation (eUCP) (Publication 500/2 & 500/3)International Standby Practices (ISP98) (Publication 590)Process of creating rules for letters of credit started in 1927First rules created in 1933 with the introduction of the Uniform Customs and Practice forCommercial Documentary Credits (Brochure 82) Worlds best example of private rulemaking
Policy Statements:
When a non-bank issues a letter of credit (30 October 2002)Transferable credits and the UCP 500 (30 October 2002)Examination of Documents, Waiver of Discrepancies and Notice under UCP 500 (April 2002)The determination of an "Original" document in the context of UCP 500 sub-Article 20(b) (470/871Rev) (12 July 1999)ICC endorsement of the UNCITRAL Convention on Independent Guarantees and Stand-by Letters of Credit (21 June 1999)The impact of the European economic single currency (euro) on monetary obligations related to transactions involving ICC rules (6 April 1998)Position Papers n° 1, 2, 3, 4 on Uniform Customs and Practice for Documentary Credits (UCP 500)
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