Table of Contents Foreword... iii Legend...v UCP600 Article 1 Application of UCP... 1 A. Introduction... 1 4: UCP600 Defined Terms Used in UCP600 Article 1 5: UCP600 Interpretations Generally C. Standby Letters of Credit... 3 11: The Extent to Which Specific Articles of UCP600 are Applicable to Standbys D. Miscellaneous Scope Issues... 3 12: Interpretation of the Term Credit in UCP600 E. Variation of UCP600... 4 16(e): Variability of the Articles G. Miscellaneous Issues... 5 23: Implications of Non-Bank Issuance 27: Electronic Presentation H. References... 6 30: Other Sources UCP600 Article 2 Definitions: 1 Advising Bank...7 E. References... 7 28: Other Sources. UCP600 Article 2 Definitions: 2 Applicant...7 A. Introduction... 7. B. The Applicant... 7 24: Rights and Duties of the Applicant. E. References... 8 32: Other Sources. UCP600 Article 2 Definitions: 3 Banking Day...8 A. Introduction... 8. E. References... 9 26: Other Sources. UCP600 Article 2 Definitions: 4 Advising Bank...9 A. Introduction... 9. E. References... 10 26: Other Sources. vii
UCP600 Article 2 Definitions: 5 Complying Presentation... 10 A. Introduction... 10. B. The Use of the Term Complying Presentation... 10 8: Use 14: Compliance with Standard International Letter of Credit Practice. UCP600 Article 2 Definitions: 6 Confirmation...11 A. Introduction... 11. UCP600 Article 2 Definitions: 7 Confirming Bank... 12 A. Introduction... 12. C. Related Issues Regarding Confirming Banks... 12 16: Discretion. D. Miscellaneous Issues... 13 20: Bank ; Implications of Non-Bank Issuance or Confirmation. UCP600 Article 2 Definitions: 8 Credit... 13 A. Introduction... 13. C. Related Issues Regarding Credit... 13 15(a): Definite Undertaking. D. Miscellaneous Issues... 15 27: Implications of Non-Bank Issuance. UCP600 Article 2 Definitions: 9 Honour... 15 A. Introduction... 15... 15 10: UCP600 Honour UCP600 Article 2 Definitions: 10 Issuing Bank... 16 A. Introduction... 16. B. The Issuing Bank... 17 9: Bank; Non-Bank Issuance. 13: Applicant. 16: Agency. UCP600 Article 2 Definitions: 11 Negotiation... 18 A. Introduction... 18. B. The Use of the Term Negotiation... 18 9(c): Terms: Purchase 13(b): What is Negotiation?: Giving Value. viii
13(d): What is Negotiation?: Purchase. 13(e): What is Negotiation?: Purchase or Prepay E. References... 19 27: Other Sources. UCP600 Article 2 Definitions: 12 Nominated Bank...20 A. Introduction... 20... 20 E. References... 20 36: Other Sources. UCP600 Article 3 Interpretations 2 Irrevocable Undertakings... 21 D. References... 21 16: Other Sources. UCP600 Article 3 Interpretations 3 Signature... 21 A. Introduction... 21 5: Supplemented by ISBP (2007). B. Signature... 22 13: Signed. 13(a): Signed: Where Signature Required. 13(b): Signed: Signature Lines. 13(c): Signed: Alterations. D. References... 23 22: Other Sources. UCP600 Article 3 Interpretations 4 Legalized, Visaed, or Certified..23 A. Introduction... 23 5: Supplemented by ISBP (2007). B. Legalized, Visaed, or Certified... 23 12(c): The Meaning of Legalized, Visaed, and Certified : Certified. D. References... 24 28: Other Sources. UCP600 Article 3 Interpretations 5 Branches...24 D. References... 24 24: Other Sources... 24 UCP600 Article 3 Interpretations 6 General Terms Describing Issuer of a Document... 24 A. Introduction... 24 5: Supplemented by ISBP (2007). UCP600 Article 3 Interpretations 7 General Terms Relating to Timely Action... 25 A. Introduction... 25 ix
5: Supplemented by ISBP (2007). B. General Terms Related to Timely Action... 25 13: Document. D. References... 26 21: Other Sources. UCP600 Article 3 Interpretations 8 Date Tolerances...26 A. Introduction... 26 5: Supplemented by ISBP (2007). D. References... 27 23: Other Sources. UCP600 Article 3 Interpretations 9 Calculation of Period of Shipment... 27 A. Introduction... 27 5: Supplemented by ISBP (2007). B. Calculation of Period of Shipment... 27 9: Before and After. 10: Within. D. References... 28 24: Other Sources. UCP600 Article 3 Interpretations 10 From and After in Calculating Maturity Dates... 29 A. Introduction... 29 5: Supplemented by ISBP (2007). B. From and After in Calculating Maturity Dates... 29 11: Financial Obligation. D. References... 29 21: Other Sources. UCP600 Article 3 Interpretations 11 & 12 Fractions of a Month, 11 First Half and Second Half, 12 Beginning, Middle, and End... 30 A. Introduction... 30 5: Supplemented by ISBP (2007). D. References... 30 21: Other Sources. UCP600 Article 4 Credits v. Contracts... 31 B. Independence... 31 7: Independence 10: Applicable to LC Banks C. Letter of Credit Abuse... 31 20: Exception for Fraud or Abuse x
E. References... 32 28: Other Sources: UCP600 Article 5 Documents v. Goods, Services or Performance...33 B. Documents and Not Goods or Services... 33 8: Independence Principle 10: Non-Documentary Conditions 14: Quality of the Goods, Services, or Performance D. References... 34 23: Other Sources: UCP600 Article 6 Availability, Expiry Date and Place for Presentation.35 A. Introduction... 35 B. Place at Which Credit is Available... 35 9: Available With 15: Place of Presentation 16: Two Senses of the Place of Presentation C. Means By Which a Credit is Available For Payment: Available By... 36 23: Must State D. Expiration... 36 31: Expiration Time and Place 36: Automatic Extensions, Increases or Reductions, Reinstatement, and Revolving Credits 41: Examination and Forwarding Documents After Expiry Date F. References... 39 51: Other Sources UCP600 Article 7 Issuing Bank Undertaking... 41 A. Introduction... 41 C. The Issuer s Undertaking... 41 17: Without Recourse and Finality of Payment 19(f): Undertaking to Beneficiary: Available by Deferred Payment Undertaking 25(c): On what basis will a bank examine a draft to determine compliance? 26: The Issuer s Undertaking and Amendments D. The Issuer s Undertaking to Cover for Nominated Banks... 43 27: Undertaking to the Beneficiary: To Cover the Inaction of a Nominated Bank E. The Issuer s Undertaking to Reimburse Nominated Banks... 44 29: Undertaking to Nominated Banks: To Reimburse xi
30: Forward 33(d): Conditions to the Issuer s Undertaking: Presentation to the Issuer or a Nominated Bank and a Complying Presentation 42: Undertaking to Negotiate: So-called Silent Confirmations G. Miscellaneous Issues... 47 47: Implications of Non-Bank Issuance H. References... 47 53: Other Sources UCP600 Article 8 Confirming Bank Undertaking...49 A. Introduction... 49 C. The Confimer s Undertaking... 49 17: The Undertaking of a Confirming Bank 17(a): The Undertaking of a Confirming Bank 27(c): The Role of Drafts: On what basis will a bank examine a draft to determine compliance? E. The Confirmer s Undertaking to Reimburse Nominated Banks... 50 32. Undertaking to Nominated Banks: To Reimburse F. Other Issues Related to the Confirmer s Undertaking... 51 36(c): Conditions to the Confirmer s Undertaking: Presentation to the Confirmer or Any Other Nominated Bank and a Complying Presentation 36(e): Conditions to the Confirmer s Undertaking: Presentation to the Confirmer or Any Other Nominated Bank and a Complying Presentation 37: Further Qualifications to the Confirmer s Undertaking 38(a): Other Aspects of the Confirmer s Undertaking: Examination of Documents Presented 43: The Confirmer s Undertaking and Amendments 45: Undertaking to Negotiate: So-Called Silent Confirmations 47(e): Relationship Between Nominated Banks and the Issuer or Applicant; Not Agents G. Miscellaneous Issues... 54 51: Implications of Non-Bank Issuance UCP600 Article 9 Advising of Credits and Amendments...55 B. Distinctions in Advice of Credits and Amendments Under UCP600... 55 7: Advice and Advise C. Undertaking of an Adviser/Second Adviser... 55 12: No Undertaking to Honour or Negotiate E. Miscellaneous Issues... 55 xii
29: SWIFT F. References... 56 36: Other Sources UCP600 Article 10 Amendments... 57 B. Amendment... 57 7: Amendment in LC Usage 13(a): Issuing Bank and Amendments: The Obligation of the Issuer 26: Rejection and Unilateral Amendment 30(a): Automatic Amendments: Extensions or Reductions, Reinstatement, and Revolving Credits: What They Are C. Cancellation... 58 33(b): Cancellation: Prerequisites 33(c): Cancellation: Consent E. References... 59 42: Other Sources UCP600 Article 12 Nomination... 61 A. Introduction... 61 2: Background & Context C. Types of Nominated Banks... 61 14(a): Obligation of Nominated Bank: Where the Nominated Bank Elects Not to Act: 14(b): Obligation of Nominated Bank: Where the Nominated Bank Elects to Act 15(b): Confirming Bank as a Nominated Bank: Ability to Add a Confirmation Later D. Negotiation, Discount, Recourse, and Protected Persons... 63 18: Negotiation 24: Recourse 28: Entitlement to Reimbursement F. References... 64 48: Other Sources UCP600 Article 13 Bank-to-Bank Reimbursement Arrangements...65 A. Introduction... 65 1: Generally 7: Supplemented by URR725 (2008) B. Reimbursement... 66 17: Honor By Means of a Claim for Reimbursement; The Beneficiary as the Party Claiming Reimbursement xiii
C. Miscellaneous Issues... 66 20.5. TT Reimbursement Clauses UCP600 Article 14 Standard for Examination of Documents...69 UCP600 Article 14 Summary of Topics... 69 A1. UCP600 Article 14(a) Examination of Documents on Their Face... 69 5: Supplemented by ISBP (2007) 7: Must 8: Examine and Determine 9: On the Basis of the Documents Alone 9(a): Letter of Credit Fraud 10: Appear on Their Face 10(a): Reverse Side of A Document 10(b): Affirmations of the Independence of the LC Undertaking in the Course of Examination of Documents 11: Documents 12: To Determine Compliance 14: Contra Proferentem/Construed Against the Issuer and Applicant 15: Terms and Conditions 17: Name of Beneficiary or Applicant 18: Banking Practice, Common Knowledge, and Publicly Available Information 19: Trade Terms 20: Whether Failure to Assert a Discrepancy in a Prior Presentation Results in Waiver of the Same or a Similar Discrepancy in a Subsequent Presentation 21: Standards for Other Documents Not Treated in UCP600 A2. UCP600 Article 14(d) Conflicts... 80 6: Document 7: When Read in Context 7(a): In context with the Credit 7(b): In context with the Document Itself 7(c): In Context with international standard banking practice 7(e): Other Documents and the Presentation as a Whole 8: Standard International Letter of Credit Practice: international standard banking practice and the International Standard Banking Practice 11(c): Identical; Strict Compliance 12: Degrees of Identicalness 13: Linkage Between Documents xiv
15: Must Not Conflict With 15(a): Conflict 15(b): Relevance of Opinions on Inconsistency 15(e): Data in That Document 15(f): Any Other Stipulated Document 15(g): The Credit A4. Examination Issues Addressed More Specifically in the International Standard Banking Practice (2007)... 91 2: Alterations and Corrections 3: Certifications and Declarations 4: Signed 5: Dates 6: Expressions Not Defined in UCP600 6(a): Shipping Documents 6(b): Third Party Documents Acceptable 6(c): Exporting Country 7: Language 8: Mathematical Calculations 9: Misspellings or Typing Errors 10: Multiple Pages and Attachments or Riders 11: Shipping Marks 13: Combined Documents B. SubArticle 14(b) Time for Examination... 97 13: Presentations C. SubArticle 14(c) Stale Transport Documents... 97 2: The Rule Regarding Stale Transport Documents Generally 19 & 20 8(a): Transport Document 8(b): Original and Copy 10: Twenty-One Days 18: SWIFT 19: Variations E. SubArticle 14(e) Description of the Goods in Other Documents... 99 1: Description of the Goods in Other Documents Generally 5: Supplemented by ISBP (2007) 7: The Description of the Goods in the Commercial Invoice 9: If Stated 9(a): Whether Required 11(c): Identifying Marks xv
F. SubArticle 14(f) Issuer and Content of Other Documents...101 1: UCP600 Article 14(f) Generally 2: Background of the Rule 7: Requires Presentation of a Document 8(d): ISBP (2007) 22 9: As Presented 10: Data Content 11: Transport Document 13: Commercial Invoice 15: Appears to Fulfill the Function of the Required Document 16: Otherwise Complies With Subrule 14(d) 17: SWIFT 18: Third Party Documents Acceptable G. SubArticle 14(g) Extraneous Documents...107 5: Extraneous Documents: 6: Distinguished from Extraneous Data: 8: Not Required by the Letter of Credit H. SubArticle 14(h) Non-Documentary Conditions...108 8: What is a Non-Documentary Condition? I. SubArticle 14(i) Dates of Documents...109 1: UCP600 Article 14(i) Generally 5: Supplemented by ISBP (2007) 7: Dates 8: The Date of a Document; More Than One Date 9: Undated Documents: Are Dates Required? 11: Documents Dated Prior to the Issuance Date of the Credit 12: The Date of Presentation 16: Dating of Documents After the Date of Shipment 21: Prior Versions J. SubArticle 14(j) Address of Beneficiary and Applicant...111 1: UCP600 Article 14(j) Generally 5: Supplemented by ISBP (2007) 6: When 20: Exception Where Consignee or Notify Party 24: On a Transport Document K. SubArticle 14(k) Shipper/Consignor...112 5: Consignor or Shipper L. SubArticle 14(l) Issuer of Transport Documents...112 6: Freight Forwarder s Bill of Lading Acceptable xvi
M. ISBP (2007) 43 56: Drafts & the Calculation of their Maturity Date... 113 3: Drafts and the Terms of Letters of Credit N. ISBP (2007) 181 185: Certificates of Origin...113 5: Certificates of Origin and the Terms of the Letter of Credit 12: Relation to the Invoiced Goods UCP600 Article 15 Complying Presentation...115 B. When a Presentation Complies...115 7(b): Pre-Refusal Waiver 11: Determining Compliance 12: Obligation of the Issuer Who Determines that the Presentation Complies 14: Obligation of Another Nominated Bank that Determines that the Presentation Complies C. Miscellaneous Issues...118 19: Implications of Non-Bank Issuance D. References...118 26: Other Sources: UCP600 Article 16 Discrepant Documents, Waiver and Notice...119 B. Refusal: UCP600 Article 16(a)...119 8: Right to Refuse or Dishonor 9(a): Refusal by Banks: Issuing Bank 14: Cure C. Waiver: UCP600 Article 16(b)...120 18: When 24: Sole Judgment 26: Approach the Applicant for a Waiver of Discrepancies 27: Agreement of the Issuer to the Applicant s Waiver 29: What Constitutes a Waiver 42: Not a Collection; On Approval D. The Notice of Refusal: UCP600 Article 16(c), (d) & (e)...121 43: Generally 47: Single Notice. 49: Obligated Banks 52: Formality of Notice 55: Unambiguous Position 58: Adequacy of the Notice 62: The Options under UCP600 Article 16(c)(iii) 63: Formalities 64: Substantive Rights in Addition to Notice xvii
68: Ownership of the Documents 69: Holding Documents Pending Further Instructions 70: Holding Documents Pending Waiver 71: Returning the Documents 75: Changes in SWIFT Format 78: Subarticle (d) Generally 85: Without Delay E. Preclusion: UCP600 Article 16(f)...127 89. Fails to Act 93. Release of Documents to the Applicant 94: Re-Presentation and Cure 95: Claiming that the Documents Do Not Constitute a Complying Presentation; Single Notice of Refusal 98: Per Se Right of Refund? G. Miscellaneous Issues...130 102: Implications of Non-Bank Issuance H. References...131 110: Other Sources: UCP600 Article 17 Original Documents and Copies... 133 A. Introduction...133 B. Originals...133 10: At Least One Original 11: What is an Original? Facial Characteristics 14: Bearing An Apparently Original Signature, Mark, Stamp, or Label 15(e): On the Document Issuer s Stationary 18: Do Originals Need to be Signed? C. Copies...134 22(a): What is a Copy? 22(d): What is a Copy? 23: Copies Need not be Signed 24: When a Copy is an Original E. References...135 36: Other Sources: UCP600 Article 18 Commercial Invoice... 137 A. Introduction...137 B. The Name of the Document...138 8: The Name Commercial Invoice and Invoices xviii
C. Elements of a Commercial Invoice...138 9: Commercial Invoice Defined 10: Elements of a Commercial Invoice 11(a): No Title 11(b): Other Similar Names in the Credit or the Document Presented 11(c): Names that are not Equivalent 13(a): The Applicant 13(b): Literalness of the Name of the Applicant 13(c): Address of Applicant 15: Amount 15(a): Correspondence of Amount with Other Figures 15(b): Amount in Excess of Amount Available Under Credit 15(d): Charges and Costs 15(f): Calculations 16: Currency 17: Trade Terms 17(a): Trade Terms 17(c): Trade Terms 18: Quantity 18(a): Quantity Shipped 18(b): Excess Quantities or Additional Goods 19: Description of the Goods 19(a): The Standard of Documentary Compliance 19(b): Literalness of the Description of the Goods in the Commercial Invoice; Correspond 19(c): Additional Data D. Miscellaneous Issues...146 22: Signature of Beneficiary and Date 28: Applicability to Standbys E. References...146 31: Other Sources UCP600 Article 19 Transport Document Covering at Least Two Different Modes of Transport... 147 A. Introduction...147 3: Application of UCP600 Article 19 & Its Impact. B. Multimodal Transport Document...149 13: Identifying an Article 19 Transport Document 16(b): Addressed by other Articles of UCP600 xix
C. Indicate the Name of the Carrier and Be Appropriately Signed...149 18(b): The Name of the Carrier 20(a): Signed by Carrier 20(b)(ii): Master s Signature 21: By an Agent for the Carrier or Master 22: UCP600 Interpretations Applicable to UCP600 Article 19: Signed 23: Name of the Master. D. Receipt or Taking in Charge of the Goods...151 28(a): Whether Required 29(c): Shipped on Board 30: Issues When LC Requires Multimodal Transport Document Indicating Goods Laden On Board. 32: Pre-Printed Wording 39: Date of Dispatch, Taking in Charge, or Loading on Board; Date of Shipment; Date of Stamp or Notation E. Indicating Shipment From the Port of Loading to the Port of Discharge... 153 46(a): Range of Ports 46(c): CY or CFS H. Other Provisions...153 56: Clean 58: Negotiable; Indorsement of Bill of Lading 59: Copies of Transport Documents K. References...154 75: Other Sources UCP600 Article 20 Bill of Lading... 155 A. Introduction...155 1: Generally 3: Application of UCP600 Article 20 & Its Impact B. Bill of Lading...156 8: Transport Documents 12: Identifying an Article 20 Transport Document 15(b): Addressed by other Articles of UCP600 C. Indicate the Name of the Carrier and be Appropriately Signed...157 17(b): The Name of the Carrier 18: Signed 19(a): Signed by Carrier 19(b)(ii): Master s Signature 20: By an Agent for the Carrier or Master xx
22: Name of the Master 23: Freight Forwarder s B/Ls D. Shipment of the Goods on Board a Named Vessel From Required or Permitted Port of Loading...160 28: Shipped On Board. 29: Loaded on Board; Laden on Board. 30(a): Pre-Printed. 34: Pre-printed On Board B/L with On Board Notation. 37: Date of Loading on Board; Date of Shipment; Date if On Board Notation. E. Indicating Shipment From the Port of Loading to the Port of Discharge... 162 40: Port of Loading and Discharge. 40(c): Port of Discharge. 40(d): Place of Final Destination. 43(a): CY or CFS. 43(b): Range of Ports. F. Full Set of Bills of Lading...163 44: Full Set. 45: Partial Shipments. H. Other Provisions...164 49: Not Subject to Charter Party. 53: Clean. 56: Negotiable; Indorsement of Bill of Lading. 57: Copies of Transport Documents. K. References...164 75: Other Sources. UCP600 Article 21 Non-Negotiable Sea Waybill... 167 A. Introduction...167 3: Application of UCP600 Article 21 & Its Impact B. Non-Negotiable Sea Waybill...168 15(b): Addressed by other Articles of UCP600 C. Indicate the Name of the Carrier and Be Appropriately Signed...168 17(b)(i): Name 19(a): Signed by Carrier 19(b)(ii): Master s Signature 20: By an Agent for the Carrier or Master 21: UCP600 Interpretations Applicable to UCP600 Article 21: Signed xxi
D. Shipment of the Goods on Board a Named Vessel From Required or Permitted Port of Loading...169 28: Shipped on Board 29: Loaded on Board; Laden on Board 30(a): Pre-Printed 36: At the Place Stated in the Credit 37: Date of Loading on Board; Date of Shipment; Date of On Board Notation E. Indicating Shipment From the Port of Loading to the Port of Discharge... 171 40(d): Place of Final Destination 43(a): CY or CFS 43(b): Range of Ports F. Full Set of Non-Negotiable Sea Waybills...172 44: Full Set 45: Partial Shipments H. Other Provisions...172 53: Clean 57: Copies of Transport Documents K. References...172 75: Other Sources UCP600 Article 22 Charter Party Bill of Lading... 173 A. Introduction...173 B. Charter Party Bill of Lading...174 8: Transport Documents 9: Charter Party Bill of Lading 10: When Does a UCP600 Credit Require Presentation of a UCP600 Article 22 Charter Party Bill of Lading? 13(b): Addressed by other Articles of UCP600 C. Indicate That it is Subject to a Charter Party and Be Appropriately Signed... 175 15: Indicate that it is Subject to a Charter Party 17: By Whom Signed 17(a)(ii): Master s Signature 17(b)(ii): Owner s Signature 17(c)(ii): Charterer s Signature 18: By an Agent for the Master, Owner or Charterer 19: UCP600 Interpretations Applicable to UCP600 Article 22: Signed xxii
D. Shipment of the Goods on Board a Named Vessel from Required or Permitted Port of Loading...178 24(a): Whether Required 25: Shipped On Board 26: Loaded on Board; Laden on Board 35: Date of Loading on Board; Date of Shipment; Date of On Board Notation E. Shipment From Port of Loading to Port of Discharge or Range of Ports of Discharge...179 39: Port of Discharge Shown as a Range of Ports or Geographical Area 40(a): CY or CFS. 40(b): Range of Ports F. Full Set of Charter Party Bills of Lading...180 41: Full Set 42: Partial Shipments H. Other Provisions...180 49: Clean 53: Freight Costs 55: Negotiable; Indorsement of Charter Party Bill of Lading 56: Copies of Transport Documents 57: Shipping Document(s) J. References...181 66: Other Sources UCP600 Article 23 Air Transport Document... 183 A. Introduction...183 B. Air Transport Document...183 8: Transport Documents 13: Identifying an Article 23 Transport Document 17(b): Addressed by other Articles of UCP600 C. Indicate the Name of the Carrier and Be Appropriately Signed...184 19(b): The Name of the Carrier 21(a): Signed by Carrier 21(b): By an Agent for the Carrier D. Indicate That Goods are Accepted for Carriage...185 26: UCP600 Article 23(a)(ii) 27(a): Whether Required E. Indicate Date of Issuance...185 29: UCP600 Article 23(a)(iii) xxiii
30: Date 31: Date of Issuance 34(a): Actual Date of Shipment: F. Airport of Departure and Destination Stated in Credit...186 37: Stated 39(a): Range of Airports in the LC G. Full Set of Air Transport Documents...187 41: Partial Shipments I. Other Provisions...187 50: Copies of Air Transport Documents 51: Shipping Document(s) L. References...187 67: Other Sources UCP600 Article 24 Road, Rail and Inland Waterway Transport Document... 189 A. Introduction...189 B. Road, Rail, and Inland Waterway Transport Documents...190 8: Transport Documents 11: When Does a UCP600 Credit Require Presentation of a UCP600 Article 24 Road, Rail and Inland Waterway Transport Document 16(a): Addressed by UCP600 Article 24 16(b): Addressed by other Articles of UCP600 C. Indicate the Name of the Carrier and Be Appropriately Signed...191 18(b): The Name of the Carrier in a Road or Inland Waterway Transport Document 18(d): The Carrier in CMR Road Documents 21(a): Signed by Carrier E. Indicate Place of Shipment and the Place of Destination...192 43(a): Range of Ports F. Full Set of Originals...192 45: Originals 47: Partial Shipments I. Other Provisions Not Covered in UCP600 Article 24...193 63: Shipping Document(s) 65: Blank Lines and Empty Boxes on Forms K. References...193 73: Other Sources xxiv
UCP600 Article 25 Courier Receipt, Post Receipt, or Certificate of Posting... 195 A. Introduction...195 B. Courier Receipt, Post Receipt or Certificate of Posting...195 8: Transport Documents 10: Distinguishing the Use of Courier Receipts and Postal Documents in Connection with Notices and Other Communications Not Related to the Transport of Goods from Their Use as Transport Documents C. Courier Receipt...196 45: Originals D. Post Receipts or Certificates of Posting...196 64: Date 73: Originals E. Other Provisions...197 85: Shipping Document(s) G. References...197 93: Other Sources UCP600 Article 26 On Deck, Shipper s Load and Count, Said by Shipper to Contain and Charges Additional to Freight... 199 A. Introduction...199. B. Carriage on Deck...199 13: Permitted Provisions. D. Inclusions of Costs Additional to Freight...200 30: Prohibition of Additional Charges. 32(c): Effect of Clause Stating that Freight Prepayable or Freight to be Prepaid Where the Credit Requires that Freight be Paid or Prepaid. 33: Freight and INCOTERMS and Other Delivery Terms in a Credit. E. Miscellaneous Issues...201 38: Variations. F. References...201 43: Other sources: UCP600 Article 27 Clean Transport Document... 203 A. Introduction...203 B. Clean...203 10: Beyond UCP600 Transport Documents xxv
12(b): Notations 12(d): Authentication 13: Expressly Declaring a Defective Condition 15: Goods or their Packaging 17(c): Clean on Board 19: Deleted Clause D. References...205 27: Other sources: UCP600 Article 28 Insurance Document and Coverage... 207 A. Introduction...207 B. Insurance Documents...208 12(b): Cover Notes 12(c): Cover Notes 13: Appear to be Issued 14: Formal Requirements: Signed 14(b): ISBP (2007) 37 40 16: Countersigned by the Insured 17(d): Proxy 19: Alterations or Corrections of Insurance Documents 20(a): Originals of Insurance Documents C. Coverage...212 21: From Date of Shipment 26(a): Risks Covered 28: All Risks 29: Exclusion Clauses 30: Insured Party; Indorsements 31: Franchise or Deductible 32: Multiple Policies 33: Insurance Expiry Date E. References...215 42: Other sources: UCP600 Article 29 Extension of Expiry Date or Last Day for Presentation... 217 A. Introduction...217. D. References...217 35: Other Sources: xxvi
UCP600 Article 30 Tolerance in Credit Amount, Quantity and Unit Prices... 219 A. Introduction...219 B. Express Terms of Tolerance...219 11: Linkage of Approximation to the Credit Term C. Implied Tolerance...219 14: Implied Tolerance in the Quantity of the Goods D. Tolerance in Drawing Amount...220 15: Tolerance in the Drawing Amount Where the LC Prohibits Partial Shipment F. References...221 26: Other Sources: UCP600 Article 31 Partial Drawings or Shipments... 223 A. Introduction...223 6: Supplemented by Statements of Practice B. Partial Shipments...223 8: Partial Shipments Permitted 9: Partial Shipment 16: Latest Date of Shipment; 31(b) 1 Sentence 2 18: Partial Presentations C. Partial Drawings...224 21: Partial Drawings E. References...225 30: Other Sources: UCP600 Article 32 Instalment Drawings or Shipments... 227 A. Introduction...227 D. References...227 23: Other Sources UCP600 Article 33 Hours of Presentation... 229 F. Reference...229 28: Other Sources UCP600 Article 34 Disclaimer on Effectiveness of Documents... 231 D. No Liability for Letter of Credit Fraud or Abuse...231 35: No Duty Not to Honor G. References...231 50: Other Sources: UCP600 Article 35 Disclaimer on Transmission and Translation... 233 B. General Matters Applicable to All Paragraphs of UCP600 Article 35...233 xxvii
7: Disclaimer C. UCP600 Article 35 1...233 20: Loss or Lost in Transit or Transmission D. UCP600 Article 35 2...233 33: Protections for the Nominated Banks Where Documents are Lost in Transit 41: Complying Presentation E. UCP600 Article 35 3...234 50: No Obligation to Translate 55(a): Language in Which Required Documents are Presented and Examination of Documents in Other Languages G. References...234 63: Other Sources UCP600 Article 37 Disclaimer for Acts of an Instructed Party... 235 C. Charges...235 18: Charges UCP600 Article 38 Transferable Credits... 237 B. Transfer: UCP600 Article 38(b)...237 12: Terms Defined in UCP600 Article 38 C. No Obligation to Transfer a Credit: UCP600 Article 38(a) & (c)...237 17: No Obligation to Transfer a Credit: UCP600 Article 38 (a) & (c) G. The Extent to Which Transferred Credit Can Deviate from the Original Credit: UCP600 Article 38(g)...238 40: Provision in a Transferred Credit that Can be Changed and Documents that Can be Substituted H. Substitution of Documents: UCP600 Article 38(h) & (i)...238 46: Substitution of Documents I. Other Issues Related to Presentation Under a Transferred Credit: UCP600 Article 38(i), (j), & (k)...239 61: Who Must Examine and Give Notice Under a Transferred Credit? L. References...239 77: Other Sources UCP600 Article 39 Assignment of Proceeds... 241 B. Assignment of Proceeds...241 10: Assignment of Proceeds xxviii