UCP 600
Journal of International Banking & Financial Law/2007 Volume 22/Issue 4, April/Articles/UCP 600: not so strict compliance - (2007) 4 JIBFL 196 Journal of International Banking and Financial Law (2007) 4 JIBFL 196 1 April 2007 UCP 600: not so strict compliance Feature UCP 600 Paul Downes is a barrister specialising in banking and finance at 2 Temple Gardens, Temple, London, EC4Y 9AY. Email: pdownes@2tg.co.uk © Reed Elsevier (UK) Ltd 2007 This article summarises the main changes to be introduced by the UCP 600, focusing on those areas giving cause for concern. KEY POINTS · In the new Uniform Customs and Practice for Documentary Credits ('UCP') 600, documents need not be absolutely consistent or mirror images of each other. · Reliance on non-documentary conditions is precluded. · The data content of documents must not be inconsistent. · Some provisions may give rise to arguments in the future. On 20 January 20...