The Uniform Customs and Practice for Documentary Credits (UCP), developed by ICC, are rules used by letter of credit practitioners the world over. But most practitioners know very little about the UCP’s creation and how they have developed over the years. The Complete UCP traces the history of the rules from their inception more than 70 years ago through their latest revision, UCP 600, which came into effect on 1 July 2007.
Written and compiled by Dan Taylor, Vice-Chairman of the ICC Banking Commission, this valuable collection contains the full text of the seven versions of the UCP that have appeared since 1933, as well as their antecedents, which date back to 1920. Each text is accompanied by an incisive commentary explaining the major changes from one UCP to another.
More than just a history, The Complete UCP provides valuable insights into the most successful private rules for trade ever developed. This important work will enhance your understanding of UCP 600.