Forgot your password?
Please enter your email & we will send your password to you:
Copyright © International Chamber of Commerce (ICC). All rights reserved.
( Source of the document: ICC Digital Library )
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.