Understanding Article 2 of UCP 600: Key Definitions
In our previous post, we discussed Article 1 of UCP 600, which explained when and how the rules apply. Now, let’s dive into Article 2, which sets out the definitions…
Understanding Article 1 of UCP 600: Application of the Rules
When it comes to international trade, one of the most trusted payment instruments is the letter of credit (LC). To avoid confusion and ensure consistency across borders, the International Chamber…
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…
Negotiability Test for Transport Documents (UCP 600)
Step 1:➡️ Is the document a Bill of Lading (B/L) or Charter Party Bill of Lading?Yes → Go to Step 2No → ❌ Non-Negotiable (Air Waybill, Sea Waybill, Multimodal, Road/Rail,…
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