ISBP 821 - UCP 600 - ed).pdf banking standards

important

1. International Standard
Banking Practice

for the Examination of Documents
under UCP 600

ISBP

icc|(

2. International Standard Banking Practice forthe Examination of Documents
under UCP 600

(Copyright © 2023 international Chamber of Commerce,

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inthis work No port ofthis work may be reproduced, distributed, transmitted,
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without the written permission of ICC.

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ICC Publication No. @821E
ISBN: 978-92-842.08575

2apicewbo.org

3. mtn endo Brig st onan of acura ar 420

Contents

Introduction

Preliminary considerations
Scope of the publication

The crit and amendment application the esuance
cf the ereit and any amendment thereto

General principles
Abbreviations
Certificate, certifications, declarations and statements
(Copies of transport documents covered by UCP 600 articles 19.25
Correction and oteration Ceorection)

(Courir rceipt. post receipt and certificate of posting in respect
bof the sending of documents, notices nd the Le

Dates
Documents and the need for compltio of box, fi or space
Documents for which the UCP 600 transport articles do not apply
Expressons not defined UCP 600,

Issue of documents

Language.

Mathematical eoleulatons

Mispolings or typing errors

Multiple pages and attachments or dora

Non-documntary conditions and confit of data
Originals ond copies

Shipping marks

Signatures

Tie of documents and combined documents

Drafts and calculation of maturity dato
Basic raquitemant
Tenor
Maturty date
Banking days. grace days, delays in romitonce
Drawing and signing

10
10

10

12
12
12
13
13

14
14
15
16
16
17
17
18
18
18
18
18
19

a

2
2
2
2
2

25

4. Endorsement
Correction and ateraton Ceorecton’)
Draft drawn on the applicant

Invoices
Tie of voice
leeuer of on nvoicn

Description ofthe goods, services or performance and other general
issues elote to invoke

Instolment drawings or shipmants

Transport document covering at least two different modes
of transport (“multimodal or combined transport document”)
Application of UCP 600 Article 19

Issuanca, carrier identification ofthe carter and signing
fa multimodal transpor document

On board notation, date shipment, place of receipt. dspatch,
taking in charge, pot of loading or lor of departure

Place of final destination, pot of charge or airport of destination
Original mutimedal transpor document
Consignes, order party, shipper and endorsement, and natiy party

Transhipment partial hipment and determining the presentation
Period when mulipe sete of multmodal transpor documents are presented

Caan multimodal transport document
Good description

Indication of name and address of dalivery agent at destination
Corrections and alterations conection?)

Freight and addtional costs

Release of goods with more thon ene multimodal transport
comento be surendered

Billof lading
‘Application of UCP 600 Artico 20
Issuance, carrier identification ofthe comer and signing ota bill of lading

On board notation, date of shipment pre-carrioge, place of receint
ond prt of oading,

Port of charge
Original bi oflading
Consignee, order party, shipper and endorsement, and naiy party

Transhipment, partial shipment and dotermining the presentation
perd when multiple sete of ll of lading are presente

Clean bl facing

A eaten Choma ot Correr 1)

25
25
25

26

26

26

2

2

2

3
a
32

32

EE E

ses

7
39
39
39

88

5. mtn endo Brig st onan of acura ar 420

Goods description a
Indication of name and address of delivery agent at port of echarge. “u
Corrections and altrations (eoractone) “
Freight and additional costs aa
Release of goods with more then one bil of lading to be surrendered 42

Non-negotiable sea waybill 43
Application of UCP 600 Artico 21 43

Issuancs, carrier identification ofthe carr and signing of a non
negotiable sea woybi 43

‘On board notation, dato of shipment. re-carriage, place of receipt
‘ond port of ioading

44
Port of charge 45
Original non-negotiable sea way 4
Consignee, ordr party, shipper. and naiy party 46

Tronshipment, partial shipment and detormining
‘the presentation period when multiple ses of non-negotiable sea

oyes ro presented 47
Clean non-negotiable sea waybil 47
Good description 48
Incication of nome and adres of delivery agent at prt of ischarge 48
Corrections and atraions corrections?) 48
Freight and addtionl cost 48

Charter party billof lading 49
Application of UCP 600 Artico 22 49
Signing of a charter party bil of lading 49
On board notation, ata of shipment pre-cariogo, place ofracipt
‘nd pert of easing 50
Port of charge si
Original charter party il of acing 52
Consignes. order art, shipper and endorsement, and notify party 52
Patil shipment and determining the presentation period when
‘multiple sets of charter party bls of lading are presented 53
(een charter party bil of lading 53
Goods description 54
Correction and altraions corrections?) sa
Froight and additional costs 54

Release of goods with more than one charter party bil of laing to bo
Surendered 54

Charter party controcts ss

6. Air transport document
‘Applicaton of UCP 600 Aile 23

Issuance, carrier identification ofthe care and signing of an ir
transport document

Goods accopted for cartiage dat of shipment and requirement for
Sn actual date of shipment

Airports of departure and destination
Original ofan oir transport documant
Consignee, order party and noti party

Tronshipmont, partial shipment and determining the presentation
Period when muljpe lr transport documents are presented

lean artronsport document
Goods description

Corrections and atraions corrections?)
Freight and oddtionl costs

Road, rail or inland waterway transport documents
‘Applicaton of UCP 600 Arico 24

Care, dantficaton of the carrer and signing of «road, ri
flan waterway transpor document

Place of shipment and place of destination

Original and dupleata of a rond, rer Inland waterway transport document

CConsignee, order party and notiy party

Tronshipment, partial shipment and datermining the presentation
Period when mulipe ead, ai or inland waterway transport
“Gocuments ore presentes

Coan road ral or iland waterway transpor document
(Goods description

Corrections and aterations corrections?)

Froight and adtional cost

Insurance document and coverage
Application of UCP 600 Article 28
Issue, signing ond original of an insurance document
Dates
“Amount of cover and percentage
Risks to be covered
Insured party and endorsement
{General terms and conditions of an insurance document

(msn Cromo! Comme)

ct
sa

a
ct
62
62

PREG

ss
65

2585382385

7. Certificate of origin 49
Basie requirement and fill ta function! 4
Issue of a certificate of origin 49
Content af acercate of rin, 49

Packing list, note or slip (“packing list”) 71
Basie requirement and flfäing ts function m
leeuer of packing list 71
Content of a packing ist 7

Weight list, note or lip (“weight list”) 72
Bosioraquitemant and fling ts function 72
Issuer of weight st 7
Content f weight st. 72

Beneficiary's certificate 73
Basic rquitement and fulflg te funtion 73
Signing ot a beneficiary’ cortifete 73
Coment of a beneficiary's certificate 73

Analysis, inspection, health, phytosanitary, quantity, quality

and other certificates (“certificate”) 74
Bosic requirement and fling ts function 74
leeuer of a certificate 74

Contents of acercate 74

ICC Banking Commission at a glance 76
Tho wor ossontil ute making body forthe banking industry 76
Rules 76
Potey making 76
Pubication and trade register 76
Dispute resolution 76
Education and certification 76
Specialized training and events 76
Statogie partnerships 76

‘About icc 7

Trade finance publications and the ICC Digital Library 78

8. Introduction

The International Standard Banking Practico (SBF), fst approved by the CC
Banking Commission in 2002 (Publication 645). updated in 2007 Publication

68). and again in2013 Publication 745) has developed into an invaluable id to
practtiones of documentary credits, on a global bass ICC Banking Commission
members and overall users ofthe rules have indicated the need for rules akgning
with eurent rade finance practices and it would be appropriate to acknowledge
that major contributing factor hos been the application ofthe practices detailed
in thos.

‘As announced atthe Plenary Meeting in Pais on 20 October 2022, the Banking
Commission Stora. in response to feedback from National Committos,
established a Working Group in order to inate imite review ofthe ISBP 745,

The aim waste evaluat oICO Opinions approved since the rose of the SEP
748 and to ensure that tho SBP were fly agned with their content.

It should be noted that the SBP 745 were approved by ICC National Committeos
in 2013, andthe reviewed Opinions were approved by ICC National Commitaos.
between October 2018 and January 2025.

Therefore ths review merely ansured alignment between previously approved
texts, ond alowed fr relevant material to be contained no ingle publication.

he outcome ofthe alignment review rested in nine Opinions being recognised
8 containing content tht would be meaningful for adaion within the ISO.

‘Those ore now included inthe ISE? 821 and comprise:

New Preliminary Consideration vl) stating thatthe absence of a credit
number or the mistyping of a credit number, on a document is nat a vai
reason for refusal (Opinion re)

+ Now Preliminary Consideration) providing that administrative conditions such
‘08a requirement for an tone! photocopy of al documents, or a statement
that all documents may not be stopled, should not be incorporated by an
issuing bank in a rect (Opinion rev)

+ Add Industrie‘ to paragraph AI (Abbreviations). (Opinion 83710)

+ Ac new poragraph AY (>) (Documents and the need for completion of a box,
fil or space) stating hat ther is no requirement for he applicant nome
“dass and contact datas (f amy) te paar in a specific box fel o space
‘en an invoice. (Opinion Stay)

‘Add new paragraph AS () (copy documents) stating that copes of
documents need net be signed and move existing ASI () © St).

(Opinion Bars)

+ Add new paragraph C7 (general issues relating to invoices) providing that

‘on invoie presented under a credit issued in USD, bearing only the "8"

sn
without further qualification, fis the requitement of UCP 600 sub-aricle 18

8 mate Cromo! Correr 1)

9. Inst Senda Bring ose rte amination cf Docu net UCP 00

(0) (i unless data in the nice itself or another presented document, implies
‘thatthe Sign may refer to a currency other than USD. Opinion Breva)

+ Add new paragraphs DS (0) (multimodal transport document), ES o) (bil
loding), 8 FA (6) (non-negetiable sea waybal stating that the signature of the
‘master (captain) may be accompanied by a stamp that incorporates the name
‘ofthe vessel. (Opinion 81)

+ Ad new paragraph Gé +) (charter party bil of lading) stating that the
signature ofthe master (captain) may be accompanied by a stamp that
Incorporates the name of the vessel. (Opinion teen)

+ Ac now paragraph K2 () stating that UCP 600 does not require that an
‘agent or proxy ito be named in an insurance document and move exiting
paragraph K2(b) to K2 (e). (Opinion 83Srv)

‘Thanks ar extended to the Working Group

+ Gary Caer Colfer Consulting

+ Monuel sé Gino Sánchez, Bonco Santander

+ Mohommad Imam, Jordon Islamic Bank

+ Birgit Korpp, LBW

ATM, Neserul Hoque, Mutual Trust Bank

+ Glenn Ransier, Well Fargo

+ Kim Sindberg. Nordes

David Moynalı
Senior Technical Adviser, ICC Banking Commission
Chair, IS8P Aignment Working Group

pei 2023

trans Cromo Come 000 19

10. Preliminary considerations

‘Scope of the publication
1) This publication is to be read in onjunction with UCP 600 and notin isoltion

1. The practices described in this publication highight how the ricas of UCP 600
‘ore tobe interpreted and applied, to the extent thatthe terms and conditions
‘ofthe credit, or any amendment thereto, do not expressly mochf or exclude an
‘plicable article in UCP 400.

‘The credit and amendment application, the issuance
of the credit and any amendment thereto

19. The terms and conditions of eredt and any amendment thereto ore
independent ofthe underlying sole or ether contract even if the credit or
‘amendment express refers 1 that sale or other contract. When agrecing the
terms of the sole or other contact, the partes thereto should be aware of the
ensuing implications forthe completion of the creditor amendment application.

M Many of the problems hat rise atthe document examination stage could
be avaided or resolved by the respective parties through careful attention to
detain the credit or amendment application and isuonce of the credit or any
‘amendment thereto. The applicant and beneficiary should carefully consider the
documents required for presentation. by whom they ae tobe issued, the data
content and the time frame in which they re tobe presented.

The applicant bears the ek of any ambiguity in its instructions to issue or amend
credit. An issuing bank may. unless the applicant expressly instructs tothe
contrary, supplement or develop those instructions in a manner necessary or
sirable to permit the use of the credit or any amendment thereto. An issuing
bank should ensure that any credit or amendment issues a not ambiguous or
Conflicting ints terms and conditions.

The applicant andisuing bank shouldbe fly aware ofthe content of UCP 600
{and recognize that articles such os 3,18, 19,20, 2, 23,24, 28 (), 30 and 31 define
terms in a manner that may produce unexpected results For example, a credit
roquiing presentation ofa bil of lading and containing a prohibition against
tronshipment il in most cates, have to exchide UCP 600 aub-arile 20 (e) to
make the prohibition against tanshipment effective.

19 A credit or ony amendment thereto should not require presentation of a document
hat to be issued, signed or counterigned by the applicant I nevertheless,
credit or amendments issued including such a requirement, the beneficiary
should consider the appropristaness of such a requirement and determine its
bit to comply with to seek a suitable amendment.

8) A request to insert the erect number on a documents usualy atthe instigation
of the issuing bank in order to facitat the colon of documents should one
or more documents become detached from the presentation. Provided ll the
stipulted documents are received bythe issuing bank, the absence ofa credit

10 natal Chamber a Came (00)

—

11. w

number or the mistyging of that number on a document does not constitute a
‘eaten for efusal. The exception 1 this position ls wher iti a requirement ofthe
importing country that the credit number be stated on one or more documents In
such circumstances, the credit must carl indicate that thi is the reason forthe
number tobe shown on that or those documents

An issing bank should not incorporate in a red administrative conditions such
68 arequiement for an addtional tof copy documents o be presented for

‘the isting banks use ra condition that all documents may net be stapled.
nevertholess such conditions are incorporated nt a credit but not complied wi,
‘this wil not constitute reason for retusa

nara Chane of Commerce 92) 1

—

12. General principles

Abbreviations

A) General accepted abbreviations, such as, but ot mit, It instead of
international, “Co” instead of "Company’ "kgs or “ks” instead of "klograms”
kos," instead of Industry" o Industrie‘, “Lt instood of “Limited,

“imi instead of ‘manufacturer of “mt instead of “metric tons" may be used

in documents in substitution for a word or vee verso A credit that includes an

‘abbreviation in ta est alow a document t show the same abbreviation or any

‘other abbreviation that has the same meaning, oo show th completo sping

ofthe word or viceversa.

AD 0. Vigulos (Le. slash morts © may result in different meanings and should
not bo used asa substitute fora werd. I, neverthlas, a vigulo e used and
9 contest is apparent, this will oo the use of one or more ofthe options.
For example, condition in credit stating “Red/ Black/Blue" with no further
latiication wil mean only Red or ony Black or any Blue or any combination
cof them,

b. no use oa comma when indicating a range of datain a credit auch as pots
ct loading or discharge or counts origin, may result in iferent meanings
fond should not be used as a substitute ora Worf nevertheless, comma is
used and ne content is apparent ths wil allow the uve of one x more ofthe
‘options, For example, when a craft allows portal shipment and indicates the
porto leading information os “Hamburg, Rotterdam, Antwerp with no further
Clarification. tis wil mean only Hamburg or only Rotterdam or nly Antwerp
ot any combination of them.

Certificates, certifications, declarations and statements
43) When a certificate certification, declaration or statement i required by a cred,
ls tobe signed.
A Winethera certificate, certification, declaration or statement needs tobe dated
wi dopend on the type of certificate, certification, declaration or statement that
has been requested, ts required wording and the wording thet appears within
the document
For example when a credit requires the presentation of a certificate issued by
the comio or is agent stating thatthe vessels no mote than 25 years od, the
certificate may evidence compliance by indicating
12 tho date or yor the vessel was bul. and such dat or yer Is no more than
25 years prior tothe det of shipment o the yer in which shipment was
affected which case a date of ssuonce ls not necessary ot

the wording as stated inthe credit in which coso a date of esvance is
recive, therobycertityng that os ofthat date the vessel was not more than |
25 years ola,

121 maton Coorer a Gamma 060)

13. 19

an

nant endo Brig Porta Doi of acura ar 420

Vian a certification, declaration or statement is % appear in a document which
Isto. signed and dated it does not tage à separate signature or date whan
the cortfcation, deciaration or statement appear to have boon gen bythe
‘ome entity that ssued and signed the document

Copies of transport documents covered by UCP 600 articles 19-25

‘2. When a credit requires the presentation of a copy ota transpor document
covered by UCP 600 articles 1925, ho relovant aril isnot opplicabl,

08 these articles only apply to original transpor document, A copy of a
transport documents to bo examined onl to the extant expressly stated in th.
rot, otherwise according to UCP 600 sub-arico 1 ().

An data shown on a copy of a transport document. when readin content with
‘the cre, the document ite ond international standard banking practic,
‘eed not be identical to, but must net confit wth, data in that document,

Cony othe sipulatad document or the erect.

©. Copia of transport documents covered by UCP 600 article 1925 are not
subject tothe default presentation period 21 calendar days iatedin UCP
600 sub-aticl 14 () or any presentation pri stated inthe ered. unless
the crei expt states the bass for determining such presentation period.
‘Otherwise, a presentation may be made at any time, but in any event no later
than the expiry date ofthe credit.

Correction and alteration (“correction”)
a. i Anycotection of datain a document issued by the beneficiary. with the
‘exception of crafts (Gee paragreph Be), need net be authenticated,
en a document issued by the boneliiary has been legazad ra,
ere et. any correction o data tobe uthentcatad by ot east
one ofthe nit hat gas vise or ori, to the document.
Such authentication is to indicate the name of the entity authenticating
the conection either by u of stomp incorporating its name o by the
din ofthe name ofthe authenticating entity accompanied by ts
signature or ni.
b 1. Anyeorectonol datain a document, ther than in. document issued
"oy th banefciory 110 appear 1 have been authenticated by heisser
ran entity acting as agent proxy ofr fron behalf of] the sue. Such
‘uthenication io int the name of tho entity authonteating the
corecton ether by ue of stamp incorporating its nome, o by the
‘ection of the name ofthe authenticating entity accompanied by ts
Signature o ntl. In he cas of authentication y an agent or pro, the
capacity of ating as agent or proxy fr [or on bahal of] the issuer isto
bo stated
When a document other than one issued by the beneficiary hos boon
legalized, vsoed, certified, ec. any coton of dto in ation to
the requirements of paragraph AT) (0) (tobe authenticated by atleast
cone ofthe ents hat logalz vise or orita, ot. the documant
Such authentication sto indicate the name of the entity authenticating
the conection ether by u of stamp incorporating ts name, or by the

14. ‘dation of tho name ofthe authenticating entity accompanied byits
signature or ints
© Any comection of dotain a copy document need not be authenticated.

9) Wena document ether thon one sued by the beneficiary contains more than
one correction, ether each correction sto be authenticated separately oF one
uthentication iso Indice that it plis t al the corrections. Fr example,
han a document sued by XIX shows three coractons numbered 1,2 and 3
one statement such os “Correction numbar 1,2 and 3 authenticated by XXX" or
Jim, together withthe signature or nila of XXX wl if the requrement
for outentication

19, Tho uso of multiple type styles, font sizes or handwriting within the same
document doesnot, by tell signify a correction

Courier receipt, post receipt and certificate of posting in respect
of the sending of documents, notices and the like

10) Men a cre tus the presentation ofa documento vance of sending
(documents, notices andthe to a named ar described entity nthe form of
A cour roja, post rit cerco of posing such document tobe
omnes only ote extont expos sttedin the ered theres according to
UGP 400 sur a ( and not under UCP 600 ore 25,

Dates
IA 0. Even when a cri does not expressly so require:
D. ceats ar to indicate a date of issuance:
insurance documents are to indicate date of issuance o effectives of
he insurance coverage as ratlected in paragraphs Ki) (6) and KID; and
3) original transport documents subject to examination under UCP 400
arcs 1925, aro 10 indicate a date o issue, a dated on board
notation, a date of shipment, a date of receipt for shipment, a date of
patch or coriogo, a date of taking in charge ora date of pick up or
receipt as applicable
1. Atequirement that a document, other than a daft, insurance document oF
ginal transport document, be dated wil be satisfied bythe indicaron of
dat of issuance orb reference in the document tothe date of another
document forming part ofthe same presentation fo example, by the wording
“date as por bi of lading number xxx" appeating on à certificate issued by a
core or its agent ora date appearing on a stipulated document indicating
‘the occurence ofan event (or example by the date inspection being
Ingicated onan inspection certificate that otherwise doesnot contain a date
otissuoncs)

IA) 0. À document, auch as, but nat imite to, corficte of ona, inapocton
cotitcate of fumigation certificate, may indicate date of issuanco later
thon the date of shipment

1. When credit requires a documento evidence a pre-sioment owen fr
example, pre=hipmont inspection certificate document ether bys

14 | maton Contar Gamma CC)

15. a9)

a

a

a

am

rer nr Br ste ren One tr VOR

tte, content or date ofisavance sto indicate thatthe vent (for example,
Inspection) tock place on or prior tothe date of shipment
© When a credit requires a document such a, but not ited to, an “inspection
cote tis does not consttut a requirement thatthe document isto
evidence a pre shipment event andi need nat be ted prior othe date
cof shipment
A documentindicaing a date of issuance anda later dot of signing is deemed to
have been issued on the date of signing
©. When a credit uses phrase to signiy timo on ath
the folowing shall app.
not later than 2 days after (date or overt" means a latest data. fan
vic or documents not tobe dated prior o a specified date cr overt
‘the erect should o state
(at isst 2 days before (date or event) means that an actor events to
take place not lta than 2 days before that date or evant. There ano mit
sto how rt it may take place.
b. 1. Fortho purpose of calculation oa period of time, the term “within” when
sed in connection witha date or event excludes that date or the event
date inthe calculation ofthe period. Fr example within 2 days of (date
‘or event) means à period of 5 days commencing 2 days prior to hat dato
‘or event unt 2 days ator that date or event.
‘Tho term within when flowed by a date or reference toa
determinable date or event includes that date or event date. Fr example,
“presentation 10 be made within 14 May” or "presentation ito bo mado
within ret vit (or credit xpi” whore the expiry date ofthe croit is
4 May, means 14 May is the last day upon which presentation is led,
provided nat May is a banking day.
The words trom’ ond “after” when used to determine a maturity date or period
for presentation folowing the dot of shipment, the date ofan event or the date
ota document exclude that date in the calculation of the period. For example, 10
oy ater the date of shipment or 10 days from the date of shipment, where the
tte of shipment wos 4 May, wil be 4 May.
Provided that the dote intended can be determined from the document r from
‘other documents included in the presentation, datos may be expressed in any
format For exam, the th of May 2018 could be expressed as 14 May 13,
14.052018, 1.0518, 2015.05.14, 05.1418, 18054, et. To avoid any ak of ambiguity. e
le recommended thet the month be stated in words.

tide of a date or an overt

Documents and the need for completion of a box, field or space

The fect that a document has a bor, fido space for data to be incrted
dose not necessary mean that such bos, fil or space is to be compete.
For example, data are not required in tho box led “Accounting Information”
or "Handling information” commeniy found on an alr waybil. lso se
potograph AS} in respect of the requirments for a signature to appear in any
box, field or space,

16. m

am,

There sno requirement forthe applicant name, address and contact details
(any) t appear ine specific box. fiador space on an invoice. These details
eed not be identified by the heading or ref Applet.

Documents for which the UCP 600 transport articles do not apply

©. Documents commenly used in relation tothe transportation of goods, such
8 but not mit to, Daivery Note, Delivery Order, Cargo Receipt Forwarder’
Coriicat of Roco, Forworders Certificate of Shipment. Forwardar
Corficate of Transport. Forwarders Cargo Receipt and Mates Receipt are not
transpor documents as defined in UCP 600 arica 1925. These documents
are t be examined oy tthe extent expressly tatin the credit, otherwise
coräng to UCP 600 sub-arécl 4 ().

b. 1. For documents referred tin paragraph AN) (o. condition of a credit

hat presentations to occur within a certain number of days ter the

date of ahipment willbe deregarded, and presentation may be made at

‘any time, butin any event no later than the expiry date ofthe erect.

‘Tho default presentation period of 21 calendar days statedin UCP 600

sub-aticl 4 () only apples to a presentation including one or more

Original transport documents covered by UCP 600 ates 1925.

©. Fora presentation porod to apply to document referred to in paragraph
18 (o), the rockt should specty that presentation is to ba made within a
certain number of days ator the issuance date ofthe respective document
ra dat that sto be mentioned inthe document (er example, when a credit
requres the presontation of a document ied cargo receipt, "document tobe
resented no later than 10 days ater the date ofthe cargo receipt).

Expressions not defined in UCP 600
The expressions "shipping documents stale documents acceptable, thd party
documents acceptable tn party documents not acceptable’ “exporting
county "shipping company” and "documents accoptabla os presente should
not be used in a ere, as they are not defined ín UCP 400. neverthooss thoy
are used, and their meanings not defined inthe credit, they shall have the
folowing mecning under international stander banking practice:

12 "shipping documents oll documents required by the credit except rats,
retransmission reports and courier receipts, postal ecaptso crtficates of
posting evidencing the sending of documents

“stole documents acceptable" - documents may be presented lator than
21 calendar days after the dato of shipment as long s they ae presented
0 later than the expiry date the credit. This wil also apply when the
credit specifies «period for presentation together withthe condition “stole
‘documents acceptable:

© “third party documents acceptable" all document for which the creditor
"CP 600 de not indicate on issuer, except crafts, maybe issued by a named
Person or entity other thon the benaicoy.

“A. “thed party documents not acceptable" - has no meaning and to
be disregarded,

14 | mans Contar Gamma CC)

17. rer nr Br ste onan One tr VOR

+. “exporting count" one ofthe following: the country where the beneticiory
is omic, the country origin af the goods, the county of receipt by the
cartier er the country fom which shipment or dispatch la made.

“shipping company” - when used in the context ofthe suer ota certificate,
catitication or declaration relating to a transport document—any one ofthe
folowing: carer, master or, when a charter party bl of lading is presented,
the master, owner or charterer, or any entity identified os an agent of anyone
ofthe aforementioned, regardless of whether issued or signed the presented!
transport document.

9 “documents acceptable as presented" à presentation may consist of one
or more ofthe stipulated documents provided they are presented within
the expiry date ofthe erect and the drawing amount is within that which is
ovale under the credit, The documents wil ot therwiee be examined
for complance under the rad er UCP 400, including whether they are
prosantedin the required number of original or copies

Issuer of documents

220) When a credit requires document to be issued by a named person or entity, his
{conditions satsiad when the document appears o be issued by the named
Person or ent by uso fit letterhead, or when thee is no letterhead, when the
document appears t have been completed or signed by. or fo [or on behalf of
the named person or entity.

Language
229. a. When a croit stipultes the language ofthe documents tobe presented the
ta required bythe crestor UCP 600 ae tobe in that language.
E. When a credits stant with respect tothe language of the documents tobe
resented the documents may be issue in ony language.
€ i Won a credit allows two or more occoptable languages, a confrming
[bank ora nominated bank acting on its nomination may restrict the
number of acceptable languages as condition of ts engagement in the
rot, and in such a cave the dat containodin the documents re only to
bein the acceptable language or languages.
‘When a credit lows a document to contain data in two or more
‘acceptable languages and a confkming bank ora nominated bank
ct on ts nomination does not reset Io language or tro number of
‘acceptable languages as a condition of ts engagementin the cect, is
required to examine the dotan al of the acceptable languages appearing

&. Banka donot examine data that have been inserted in a language that ie
‘ckitonal to thot require or olowedin tho rat.

Notwithstanding paragraphs AZ) (a) and (2, the name of a person or entity,
‘ny stomps, legalization, endorsement or simran the pre-printed text
shown on a document, such os, but nt tet, ld headings, may be ina
language other than that required in the credit.

18. Mathematical calculations

222) When the presented documents indicate mathematical calculations, banks only
determine thot the stated totalin respect of cora such as amount. quantity,
‘weight or number of packages, dos net confit withthe credit or any other
stipulated document.

Misspellings or typing errors

223) A misspoling or ypingeror that does not affect the meaning of a word or the
entence in which it occurs does not make a document zcrepant For example,
description ofthe goods shown os 'mashine' instead of “machine, founton pen
instead of “fountain pon’ or “mod” instead of "modal would not ba ragordad os
a confit of data under UCP 600 sub -ortico 1 () However, description shown
as, for example, "modal 128 instead of “model 321 wil be rogarded asa conflict
of dota under thet subie.

Multiple pages and attachments or riders

224) When a document consiste of mote than one page, it must be posible to
determine that the pages ore part ofthe same document Unless a document
Provides otherwise, pages which are phyacaly bound together seqvertioly
numbered or contain internal ross reforances, however named or tied, wil meet
this requirement and are o bo examined as one document, even if some of the
pages ae regarded 0 an attachment or ier

225) When a signature or endorsement is required tobe on a document consisting
of more than ane page, andthe creditor the document tel does not indicate
here a signature or endorsements o appear. the signature or endorsement
may appear anywhere on that document

Non-documentary conditions and conflict of data

224) When a crest contains a condition without stipulating a document to indicate
"compliance therewith Chon: documentary condition), compliance wth such
“condition ned not be evidenced on ony stipulated document However, data
contained ina stipulated document are not to bo in conic with the non.
documentary condition. For example, when a credit indicates “packing in wooden
‘cases without inlcating that such data is to appear on any stipulated document,
a statementin any stipulated document indicating a different type of packing e
considered tobe a conflicto data.

Originals and copies

A) A document bearing an apparently original signature, mark, stamp or label ofthe
issuer willbe consider t be an orginal unless it stats that ts @ copy. Banks
do not determine whether such a signature, mark, tamp or label of the isuer has
been applied in a manual o fasimie form and as such, any document bearing
such method of authentication vil say the requirements of UCP 600 ortic 7.

228) Documents issued in mor than one original may be marked “Orgina.
"Duplicate, “Tipica” Fist Original, "Second Original, te. None of these
‘markings wil squelfy a document as an original.

18 | moran Cnonter a Gamma 060)

19. 0

259

a

rer nr Br ste ren One tr VOR

a: The number of originals to ba presented isto be at east to number required
bythe credit or UCP 400.

b. Won a transport document or insurance document indicate how many
Originals have boon issued the number of origina stated onthe documents
te be prosentad, except os statod in paragraphe HI and 17) (2).

© When a erect requires prosomtaion of less than a fl soto original
transport document, (fr example 2/8 original bis of lang”). but does not
provide any disposal Instructions fort remaining orginal bil of lading, a
presentation may include 3/ original bso acing.

| When a credit requires, for example presentation of

1 “iveies, “One mice, voice int copy" or “invoice
understood tebe a requirement for an eiginal vai.

A copy wi be

“Invoice in copies” or moi in fold willbe sai y the
presentation of atleast ono arginal voice and any remaining number as
copies.

“photocopy of voice” or “copy of voice” wil be satisfied by the
presentation of other a photocopy, copy or, when not prohibited, an
ctginal invoice,

“photocopy of signed invoca” wil be satin by the presentation of
other a photecopy or copy ofthe orginal invoic that was apparently
‘signed er when not prohibited, a signed original invoice.

a: When a cri prohibits the prosantaton of on original document by stating.
{or example, ‘photocopy o invice—original document net acceptable in eu
of photocopy" or the Be, ony a photocopy of en invoice ar an ivoice marked
copys to be presented.

b. Won a eect requires the presentation oa copy of a transport documant
ond incites o disposal instruction fro originale of that document a
presentations not 1 include any eriginal of such document.

©. Original documents are to be signed when required bythe rect, the
document tot (xcept os stated in paragraph AST) or UCP 400.

b. Copies of document need not be signed, even when a credit states that il
documents are to be manually signed.

© Copies of documents need not be dated.

Shipping marks
"Wan a credit specifies the deals ofa shipping mark, documents mentioning the
shipping mark are to show those dell The dota in a shipping mark ineScated on
document need not bein the somo sequence os those shown he credit rin
‘ony other stipulated document.

A shipping mort indicated on a document may show data in excess of what
‘would normaly be considered a shipping mark or which specified inthe credit
{8 0"shipping mark, by the action of information such as, but nt limited to the
type of goods, warnings concerning the handing of frage goods or net and gross
weight ofthe goods

20. 139

2: Transport documents covering containerized goods often only show a
container number, with or without seal number, under the heading “Shipping
mark” or similar. Other documents that show a mote detailed marking wil not
be in conflict for that ron,

The fat that some documents show dkstonal information as mentioned in
paragraphs A33 and A3) (0), whi athers donot, will not be regarded as a
Confit of data under UCP 600 subtil 4 ().

Signatures

12. Asignatura, os referred toi paragraph AS (a) need not be handwritten,
Documents may alo be signed with a facsimile signature (or example 2
reprinted or scanned signatura), perforated signature, stamp, symbol for
‘example, a chop) er any mechanical er electronic method of authentication

1. Arequiement for a document tobe “signed and stamped” or a similar
requirements satisfied bya signature inthe form described in paragraph
139 (0) ond the name ofthe signing entity typed, stamped, handwritten, pro:
printed or scanned onthe document at.

©. Astotement on a document such a “This document has been elstroncaly
‘uthenticated or This document hos boon produced by electronic means
‘ond requires no signature or words of similar effect doesnot by isl
represent an electron method of authentication in accordance with the
signature requirements of UCP 600 article 3

4. Astotement ona document indicating that authentication may be verti or
obtained through a specific oference to a website (URL) constitutes form
cof aectronie method of authentication in accordance withthe signature
requirements of UCP 600 article 3. Banks wi nat accoss such websites to
vor or abtain authentication,

{2 Asignatura on the letterhead paper of a named person or entity is considered
te be the signature of that named person o entity unless otherwise state.
‘The named porson or entity need not be repeated not to the signature

E. When a signatory indicates itis signing for for on behalf of branch of the
issue, the signature willbe considered bo that ofthe issuer.

‘The foct that a document has a bos, fil oF space fora signature does notin

itself mean that such box. fold or space isto be completed wth signatura For

example, signature isnot required in the space ted “Signature of hippar or
their agent” cemmeniy found on on ai waybil er "Signature of shipper" on a road

‘uonsport document. so see paragraph AT) in respect ofthe requirements or

dota t appear ina box, field or space.

en a document includes werding such as “This documents not vail unos

‘countesigned [or signed] by (name of the person or entity)” or words of sar

fect, the applicable box, ik or apace isto contain asignatura and the name of

the person or ety thats countersigning the document,

20 | maton Gronr a Gammes CC)

21. rer nr Br ste onan One tr VOR

Title of documents and combined documents.

A3) Documents may be td as cole for inthe credit, beara similar ti or bo
Unto. The content ofa document must appear to ffl the function of the
required documen, For example, «requirement for a "Pocking List” willbe saisie
by a document containing packing details whether its ile “Packing List’
“Packing Not’ ‘Packing and Weight List’ ec. or bears no ite.

to) Documents required by credit re tobe prevented as separate documents.
However and as on example, requirement for an original packing Ist ond
‘on orginal weight Ist wil alo be sated by the presentation of two orignal
“combined packing and weight ss, provided that such documents stata both
Pocking and weight deals.

M9. À document require by a erect that ito cover more than one function may be
presented asa single document or separate documents that appear tofu each
function. For exemple requirement fra Cerificate of Quality and Quant wil
bo satis bythe presentation of a single document or by a separate Certificate
of Qualty and Cerf of Quantity provided that each document appear
to fit function and is presentd in the number of rginals and copies os
required by the creci

22. Drafts and calculation of maturity date

Basic requirement
13) 0. Adraft whan required isto be drawn onthe bank stated in th creci.
Banks only examine daft tothe extent described in paragraphe 82-87)

Tenor
182) 0. The tanar stoted on a draft 10 bein accordance with the terms of the erect
1. When a rat requires a draft tobe drawn ato tenor other than sight or a

certain period ater ight it must be possible to estable the maturity date
from the data inthe daft eat

For ramp, when acre ca for dats at ator 60 days for the il offing

dt, and when the dt ofhe il flräng May 205 the tani tobe inca

‘onthe caftinone of the omg ways:

À 40 day ato bill of acing date 1 May 20187, or

60 days ator 14 May 2013" or

60 days after il of lading dot” and elsewhere onthe face ofthe draft

state “il of lacing date 14 May 2015 or

60 da date" on a daft dated the some day os the date ofthe bi of
losing, or

"Ju 2018 Le, 60 days after the bi fling date,

© When the tenor fer to. fr example, 60 days after the bil of lading data, the
on board datos doomed tobe the bill oflading date even when the on board.
tei pr oor lator than the date of suce ofthe bill lading

& The words trom’ and “after” when used to determine maturity dates of rafts
gris that the collation of tho maturity dato commences the day following
the date of the document shipment or the dato of an event stipulctedin tho
crei, for example, 10 days after or from & May st May.

& 1. Wien a credit requires abil of lading and drafts ae tobe drawn or

‘example, at 60 days ater o from th bil o lading date anda bil of acing

Is presented evidencing unloading and reloading ofthe goods from one

vesslt another, and showing more than one dated on board notation

‘ond indieating that each shipment was effected from a port within a

permitted geographical area or range af pots, the worst ofthese dat

lato bo ued forthe calculation of the maturity date For example credit
reus hipmant from any European port, and the bil oflading evidences

‘onboard vessel “from Dublin on 14 May. wth transhipment effected on

‘board vossol"E from Rotterdam on 18 May. The att should reflect 60

days after the sort on board date in a European port, Le, 14 May.

When a credit requires abil facing and drafts are to be can, for

‘example ot 60 day ater o from th il of lading date, and abil of lading

is presented evidencing shipment of goods onthe same vessal rom more

221 moat Gnonr a Carmes CC)