L/C Regulare

UCP600 & UCP500 Compared

Part I. The Modifications and Changes in General a. Given 14 definitions at first and 12 interpretations to clarify the meaning of ambiguous terms, refer to Art 2 & 3. b. Agreed that the issuing bank must reimburse the nominated bank even though the documents are lost in the transmitting however, the presentation must be complying. c. ……

Part II. Detailed Comparison for Each Article

Article 1 Application of UCP ................................................................................. 2 Article 2 Definitions................................................................................................ 2 Article 3 Interpretations.......................................................................................... 3 Article 4 Credits v. Contracts ................................................................................. 4 Article 5 Documents v. Goods, Services or Performance .................................... 4 Article 6 Availability, Expiry Date and Place for Presentation ............................ 4 Article 7 Issuing Bank Undertaking....................................................................... 5 Article 8 Confirming Bank Undertaking ............................................................... 6 Article 9 Advising of Credits and Amendments.................................................... 7 Article 10 Amendments .......................................................................................... 8 Article 11 Teletransmitted and Pre-Advised Credits and Amendments .............. 8 Article 12 Nomination ............................................................................................ 9 Article 13 Bank-to-Bank Reimbursement Arrangements..................................... 9 Article 14 Standard for Examination of Documents...........................................10 Article 15 Complying Presentation......................................................................12 Article 16...