Uniform Customs and Practice for Documentary Credits

Foreword


The raison d'être for the existence of the ICC is to facilitate trade among the world's trading countries, within which one of our core tasks is an ongoing review of international trade practices in various fields.

Accordingly, the ICC undertook a review of the Uniform Rules for Collections in March 1993, and these revised rules, which represent the culmination of the revision work, have were drafted by international experts drawn from the private sector who have worked in ICC Commissions over the last two years.

The review covered changes in collection procedures, technology, and laws and regulations, both national and international.

From the perspective of the ICC, a significant achievement of the revision is that National Committees and experts from all parts of the world took an active part in the discussions and made a positive contribution to the work.

These revised rules and their unanimous adoption by members of the ICC Banking Commission, which has a wide international representation, are a source of pride to us all, and the extensive and fruitful international consultation which preceded this work is the hallmark of the ICC.

Jean-Charles Rouher

Secretary General of the ICC