The Complete UCP

The Complete UCP
Uniform Customs and Practice for Documentary Credits
Texts, Rules and History 1920-2007

Throughout this publication the original text of the rules has been preserved as they were at the time of their original publication and as a result there are variations in spelling, punctuation and style.

With the implementation of UCP 600 on 1 July 2007, the Uniform Customs and Practice for Documentary Credits (UCP) have existed for more than 70 years. While I have done a significant amount of research into the history of letter of credit rules and the UCP, I am sure there are historical developments that may not be reflected here. I know that individual country rules existed prior to the UCP, but over the years I have been unable to obtain copies of documents other than those in the United States and Denmark. I started this research in 1990 using the files of the International Financial Services Association (IFSA), which are quite extensive. These files include originals of the early rules created in the United States beginning in 1920 and originals of the all of the UCP publications, as well as notes and papers of many of the working groups that drafted these rules.

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