Uniform Customs and Practice for Documentary Credits – Supplement for Electronic Presentation

The eUCP Version 2.1 came into force on 1 July 2019. Existing ICC rules, such as UCP 600, while being invaluable in a paper world, provide limited protection when applied to electronic transactions. It is inevitable that traditional trade instruments will, over time, inexorably move towards a mixed ecosystem of paper and digital, and, ultimately, to electronic records alone.

The content of the eUCP will be continually monitored in order to ensure applicability. The support of trade practitioners will be an essential element moving forward. These rules provide many benefits in advancing documentary credits in a digital environment and ensuring the continued relevance of these valuable instruments in mitigating trade risk.

The eUCP supplements the Uniform Customs and Practice for Documentary Credits (2007 Revision ICC Publication No. 600) (“UCP”) in order to accommodate the presentation of electronic records alone or in combination with paper documents.

Details:

Table of contents:

• ARTICLE e1 – Scope of the Uniform Customs and Practice for Documentary Credits (UCP 600) Supplement for
• Electronic Presentations (“eUCP”)
• ARTICLE e2 – Relationship of the eUCP to the UCP
• ARTICLE e3 – Definitions
• ARTICLE e4 – Electronic Records and Paper Documents v. Goods, Services or Performance
• ARTICLE e5 – Format
• ARTICLE e6 – Presentation
• ARTICLE e7 – Examination
• ARTICLE e8 – Notice of Refusal
• ARTICLE e9 – Originals and Copies
• ARTICLE e10 – Date of Issuance
• ARTICLE e11 – Transport
• ARTICLE e12 – Data Corruption of an Electronic Record
• ARTICLE e13 – Additional Disclaimer of Liability for Presentation of Electronic Records under eUCP
• ARTICLE e14 – Force Majeure