UCP 600

In effect since July 1, 2007, UCP 600 has 39 articles. Banks examine documents on their face for compliance with the credit and have a maximum of five banking days after presentation to accept or refuse them. Unless the credit says otherwise, original transport documents must be presented within 21 calendar days after shipment and before the credit expires. Banks deal only in documents, not goods. Electronic presentation is covered by the eUCP supplement, version 2.1 since 2023. UCP 600 applies only when a credit expressly incorporates it.

Letters of credit under UCP 600 still finance many imports, and document discrepancies can delay payment and the release of goods. Commercial invoices, packing lists, bills of lading and certificates of origin must match the credit's terms. For example, if a supplier's packing list shows 1,200 cartons but the bill of lading shows 1,210, the bank may refuse the documents, delaying release of the goods to the importer's warehouse. Forwarders and 3PLs preparing shipping documents for letter of credit shipments need careful document checks.

• Commercial InvoiceSeller's invoice that customs uses
• Packing ListCarton-by-carton list of a shipment
• Ocean Bill of LadingOcean carrier's receipt and contract

• CISG1980, in force 1988 · UN treaty on international sale of goods contracts
• Incoterms 20202020 · Current ICC trade terms for buyer and seller duties

1. Banking Commission approves revised rules on documentary credits, ICC iccwbo.org