The new UCP600 - changes to the tender of the seller's shipping documents under letters of credit.
Journal of Business Law, .
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Considers the latest revision of the Uniform Customs and Practice for Documentary Credits, the UCP 600, focusing on the articles governing banks' liabilities and responsibilities when shipping documents are tendered for payment under letters of credit. Discusses the incorporation of and derogation from the UCP 600, revocable and irrevocable letters of credit, and the treatment of non-documentary requirements. Examines the basic principles for the examination of documents tendered under letters of credit, the requirement for documents to be the originals, and looks at particular documents, including bills of lading.
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