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The ICC Uniform Customs and Practice for Documentary Credits (UCP) outlines rules that govern documentary credits, binding all parties unless modified. It defines key terms such as advising bank, applicant, beneficiary, and issuing bank, and emphasizes that banks deal with documents rather than the underlying goods or services. The document also specifies requirements for credit availability, expiry dates, and the responsibilities of the issuing bank regarding compliance with presented documents.

Author

PS Rendra

Language

EN