|
eUCP – “Supplement to the UCP500 for Electronic Presentations”
published.
International Chamber of Commerce
On 1 April 2002, the
International
Chamber of Commerce (ICC) eUCP came into force. The eUCP is a
supplement to the current existing Uniform Customs and Practice
for Documentary Credits (UCP500), which governs the use of
electronic presentation. In order to enable banks to adhere to
rules proposed by the eUCP, SWIFT published a number of guidelines
for Category 7 message usage in a standardized way.
”ICC Guide to
the eUCP” published
ICC Publication No. 639
The Guide provides the necessary background for each eUCP
rule, explains in detail the concepts and procedures embodied in
the rule, and compares it to UCP 500, ISP98, and other applicable
rules and laws. This commentary is intended to guide all
users of eUCP including bankers, importers, exporters, lawyers and
regulators. Go to
ICC Guide to
the eUCP
"SWIFT Guidelines" published
SWIFT eUCP Guidelines
The SWIFT eUCP guidelines mainly cover how issuing banks should
indicate adherence to eUCP, where electronic records may be
presented and in what format this may be done. The guidelines have
been published by SWIFT and are effective immediately. Please
refer to the
eUCP
guidelines summary for full details. The guidelines will be
integrated in the November 2002 update of the SWIFT standards
documentation.
"Export Transaction Financing" - new trade finance product
InterNetLC.com
Pre-shipment
working capital is now available for beneficiary's of Documentary
Letters of Credit. Working capital is provided against the
beneficiary's Assignment of LC Proceeds for the amount plus the
markup. Go to Export Transaction
Financing.
"The eUCP Internet Letter of Credit Workshop" - training
InterNetLC.com provides one day training workshops and half day
seminars to teach trade professionals how to use the Internet for
international transactions.
|
InterNetLC.com
PreShipment
Financing for Exporters.