UNIFORM CUSTOM AND DOCUMENT PRACTICE UC 600

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Uniform customs and document practice UCP 600

The Uniform Customs and Practice for Documentary Credits (UCP 600) of the International Chamber of Commerce is a collection of standards that apply to finance institutions that issue Letters of Credit, which are financial instruments that aid firms engaged in financial trading activities. The majority of banks are affected by this regulation reform.

Purpose of use

The goal of this regulation is to reduce the risk of product and service trade by establishing proper standard operating procedures, standardized trade rules and regulations, and governing the trade activities that are taking place.

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