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How UCP 600 Defines Transport Documents in Trade Finance

Under UCP 600 (Uniform Customs and Practice for Documentary Credits, 2007 Revision, ICC Publication No. 600), a transport document refers to the shipping or carriage document required under a Letter of Credit (LC) to evidence that goods have been shipped, dispatched, or received for carriage.

The rules in Articles 19–25 of UCP 600 deal with different types of transport documents:

1. Multimodal or Combined Transport Document (Article 19)

  • Covers more than one mode of transport (e.g., sea + road + air).
  • Must indicate the place of dispatch, taking in charge, or receipt and the place of final destination.
  • Must show that goods have been shipped, dispatched, or received for carriage.
  • May be signed by the carrier, a master, or a named agent.

2. Bill of Lading (Marine Bill of Lading) (Article 20)

  • Evidence of shipment by sea only.
  • Must indicate that goods have been shipped on board a named vessel at a port of loading stated in the credit.
  • Must be signed by the carrier, master, or their agent.
  • Must state port of loading and port of discharge.
  • Must be a full set of originals (unless otherwise stated).
  • May indicate goods are to be transshipped (if customary).

3. Non-Negotiable Sea Waybill (Article 21)

  • Also evidences sea transport but is not a document of title.
  • Cannot be consigned “to order” (non-negotiable).
  • Must evidence that goods have been shipped on board.
  • Must show ports of loading and discharge.

4. Charter Party Bill of Lading (Article 22)

  • Used when goods are shipped under a charter party contract.
  • Must be signed by the master, owner, or charterer (or their agent).
  • Must show ports of loading and discharge.
  • Must indicate goods have been shipped on board.

5. Air Transport Document (Air Waybill) (Article 23)

  • Must indicate airport of departure and airport of destination.
  • Must be signed by the carrier or its named agent.
  • Must state that goods are accepted for carriage.
  • It is not a document of title (cannot be consigned “to order”).

6. Road, Rail, or Inland Waterway Transport Documents (Articles 24 & 25)

  • Road / Rail / Inland Waterway Transport Document:
    • Must show the place of shipment and place of destination.
    • Must be signed or authenticated by the carrier or named agent.
    • Must evidence goods received for shipment or carriage.
  • Courier Receipts, Post Receipts, etc.:
    • Not expressly covered under Articles 19–25 but may be accepted if the LC calls for them.

✅ Key Principles under UCP 600:

  • The document must comply strictly with terms of the LC.
  • Must be signed by an authorized party (carrier/master/agent).
  • Must indicate shipment/dispatch/receipt of goods.
  • Must state ports/places of loading and discharge/destination as per LC.
  • Any clauses that indicate that goods may not have been shipped (e.g., “intended to be shipped”) are not acceptable.

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