ICC Rules

eUCP VERSION 2.1

The eUCP is a supplement to the UCP that, when used in conjunction with the UCP, will provide the necessary rules for the presentation of the electronic equivalents of paper documents under letters of credit.

Introduction
Rules

eURC Version 1.1

The ICC Uniform Rules for Collections are a practical set of Rules to aid bankers, buyers, and sellers in the collections process.

The supplement for Electronic Presentation, eURC, ensures continued digital compatibility for presentation of electronic records under Collections.

Introduction
Rules

URDTT VERSION 1.0

The ICC Uniform Rules for Digital Trade Transactions (URDTT) are intended: (a) for a fully digital environment; (b) to be neutral with regard to technology and messaging standards; and (c) to extend into the corporate space, including commercial transactions and the growing community of non-bank providers of financial services.

The URDTT are designed to be compatible with UNCITRAL Model Laws, including those on Electronic Commerce, Electronic Signatures and Electronic Transferable Records.

Introduction
Rules

ISDGP

The International Standard Demand Guarantee Practice for URDG 758 (ISDGP) is a companion document to the ICC Uniform Rules for Demand Guarantees 758 (URDG). It supplements the URDG by identifying and recording best practice in relation to the URDG rules and beyond.

Introduction
A. Application of ISDGP
B. Definitions
   Applicant
   Application
   Authenticated
   Beneficiary
   Business day/business hours
   Charges
   Complying presentation
   Counter-guarantee
   Demand
   Guarantor
   Guarantor’s own records
   Instructing party
   Presenter
   Signed
   Other terms not defined in the URDG
C. Drafting the guarantee
   General drafting considerations
   Reference to the underlying relationship
   Use of generic terms to describe an issuer of a document
   Expiry terms
   Governing law
   Jurisdiction
   Exclusions
D. Issuing the guarantee
   When is a guarantee ‘issued’?
E. Advising a guarantee
F. Amendments
G. Presentation
   Premature presentation
   To whom presentations may be made?
   Presentations in electronic/digital form
   Original/Copy of a document
   Identification of guar antee under which a presentation is made
   Documents t o be appr oved or c ountersigned by an applicant
H. Demands
   Supporting statement(s) under article 15(a) or (b)
   Form and content of demand
   Date of demand
   Partial demand and multiple demands; amount
   Corrected presentations, including demands
I. Extend or pay demand
   Examination and suspension
   Repeating a demand during the suspension period
   Suspension period by counter-guarantor
   No need to repeat or update demand
   No interest on suspension period
J. Examination
   Standard for determination of compliance
   Presenting non-required information in a required document / Presenting a non-required document
   Recalculations
   Typographical errors
   Abbreviation of corporate forms
   Punctuation marks in a document
   Document issuers
   Signatories
   Countersignature by beneficiary’s bank / Authentication of beneficiary signatures
   Examination timeline
K. Payment
   Date of payment
   Set-off
   Currency of payment
   Subrogation
   Payment without a demand
L. Non-complying demand, waiver and notice
   Notice of rejection / Waiver
   Rejection terms
   Corrections t o a non-complying demand
M. Reduction and expiry of a guarantee
   Payment reductions
   Total or partial release
   Article 25: overriding termination terms
   Automatic extension of guarantees
N. Force majeure
O. Transfers
   Amount of transfer
   Transfers of amended guarantees
   Transferee beneficiary to present the documents
   Transfers by operation of law
P. Assignment of proceeds
Q. Miscellaneous
   Fraud
   Provisional court measures
   Sanctions clauses
Index of correspondence between URDG and ISDGP
ICC Trade finance publications
ICC Digital Library
About the International Chamber of Commerce (ICC)

UCP 600

The UCP 600 are the latest revision of the Uniform Customs and Practice for Documentary Credits. UCP 600 comes into effect on July 1, 2007.

The 39 articles of UCP 600 are a comprehensive and practical working aid to bankers, lawyers, importers, and exporters, transport executives, educators, and everyone involved in letter of credit transactions worldwide.

Foreword
Introduction
Acknowledgements
Rules

eUCP VERSION 2.0

The eUCP is a supplement to the UCP that, when used in conjunction with the UCP, will provide the necessary rules for the presentation of the electronic equivalents of paper documents under letters of credit.

Introduction
Rules
Supplement to the "Commentary on eUCP Version 2.0 and eURC Version 1.0 (eRules)"

UCP 500

The UCP 500 are the Uniform Customs and Practice for Documentary Credits. UCP 500 came into effect on January 1, 1994.

The 49 articles of UCP 500 are a comprehensive and practical working aid to bankers, lawyers, importers, and exporters, transport executives, educators, and everyone involved in letter of credit transactions worldwide.

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URC 522

The URC 522 are the Uniform Rules for Collections. URC 522 came into effect on 01 January 1996.

The ICC Uniform Rules for Collections are a practical set of Rules 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 since 1979.

Subhead
Footnote
Foreword
Preface
Copyright
Rules

eURC Version 1.0

The ICC Uniform Rules for Collections are a practical set of Rules to aid bankers, buyers, and sellers in the collections process.

The supplement for Electronic Presentation, eURC, ensures continued digital compatibility for presentation of electronic records under Collections.

Introduction
Rules
Supplement to the "Commentary on eUCP Version 2.0 and eURC Version 1.0 (eRules)"

URR 725

The URR 725 are the Uniform Rules for Bank-to-Bank Reimbursements under Documentary Credits.

URR 725 should not be seen as a revision of URR 525. It is an updating process that has followed the same manner as the eUCP, i.e. to change the style to match that of UCP 600. The changes were approved by the ICC national committees at the ICC Banking Commission in April 2008.

Changes
Rules

URDG 758

The URDG 758 are the Uniform Rules for Demand Guarantees - effective 01 July 2010.

This revision of ICC's Uniform Rules for Demand Guarantees (URDG) is the first since the rules were developed by ICC in 1991. The original rules, URDG 458, gained broad international acceptance in recent years following their incorporation by the World Bank in its guarantee forms and their endorsement by UNCITRAL and leading industry associations, such as FIDIC.

View a form of Guarantee and Counter-Guarantee under URDG 758
Foreword
Introduction
Rules

ISP 98

International Standby Practices is a new set of rules and best practice for users of standby letters of credit.

Though standby letters of credit have similarities with commercial letters of credit and other financial instrument, there are significant differences in scope and practice. A new set of Rules was therefore required for this workhorse of commerce and finance and ISP 98 fills this important gap in the market place.

Foreword
Preface
Copyright
Rules

URF 800

ICC Uniform Rules for Forfaiting details how forfaiting facilitates the provision of finance to the international trade community. It eliminates certain risks, improves Cash Flow and can considerably speed up and simplify transactions. The International Chamber of Commerce (ICC) and the International Forfaiting Association (IFA) have joined forces to provide the business community with the first ever Uniform Rules on Forfaiting (URF 800).

Foreword
Introduction
Annexes
Copyright
Rules

DOCDEX

The International Centre for Expertise administers the ICC Rules for Documentary Instruments Dispute Resolution Expertise (DOCDEX), established by the ICC Banking Commission to facilitate the rapid settlement of disputes arising under the Uniform Customs and Practice for Documentary Credits (UCP), the Uniform Rules for Bank-to-Bank Reimbursement under Documentary Credits (URR), the ICC Uniform Rules for Collections (URC), or the ICC Uniform Rules for Demand Guarantees (URDG).

Foreword
Rules

URBPO Uniform Rules for Bank Payment Obligations

URBPO

The scope of the Uniform Rules for Bank Payment Obligations (URBPO) lies solely in the bank-to-bank space. This is the scope agreed in the memorandum of understanding signed between ICC and SWIFT in September 2011 and the terms of reference provided to the Drafting Group. URBPO are designed to operate in what is known as the 'collaborative' space as will any Transaction Matching Application (TMA) chosen by financial institutions (known in URBPO as Involved Banks) for a given transaction.

Introduction
Rules