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FrançaisThe Uniform Customs and Practice for Documentary Credits (UCODC) is a ICC Publication that includes a set of rules which govern international documentary credit practice. UCP 600 are generally considered contractually incorporated into the documentary credit transaction by virtue of…
Read MoreUnconfirmed letter of credit
A documentary letter of credit where the advising bank makes no commitment to pay, accept or negotiate. See letter of credit; silent confirmation.
Read MoreUniform Rules for Collections (URC)
A set of rules published by the International Chamber of Commerce (ICC) to aid bankers, buyers, and sellers in the collections process. The Rules have been prepared to resolve problems that practitioners have experienced in their everyday operations. The URC…
Read MoreUniform Rules for Contract Guarantees (URCG)
The International Chamber of Commerce (ICC) has established a set of contractual rules that may be used for contract guarantees to achieve a fair balance among the legitimate interests of the three parties involved in contract guarantees, the beneficiary, the…
Read MoreUniform Rules for Demand Guarantees (URDG)
A set of contractual rules established by the International Chamber of Commerce (ICC) that may be used for demand guarantees and counter-guarantees. These rules are not law, and apply only if the parties to the demand or counter-guarantee so choose….
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