Commercial letters of credit are the lifeblood of the international trade system and, for more than 70 years, the International Chamber of Commerce (ICC) has established the rules governing Documentary Credits worldwide.
Used by letter of credit practitioners (including bankers, traders, lawyers, transporters, academics and all who deal with letter of credit transactions worldwide), Uniform Customs and Practice for Documentary Credits (UCP) are the most successful private rules for trade e.
Commercial letters of credit are the lifeblood of the international trade system and, for more than 70 years, the International Chamber of Commerce (ICC) has established the rules governing Documentary Credits worldwide