{"id":22368,"date":"2019-07-18T12:40:43","date_gmt":"2019-07-18T12:40:43","guid":{"rendered":"https:\/\/www.tradefinanceglobal.com\/?page_id=22368"},"modified":"2025-01-13T14:27:34","modified_gmt":"2025-01-13T14:27:34","slug":"eucp","status":"publish","type":"page","link":"https:\/\/www.tradefinanceglobal.com\/letters-of-credit\/eucp\/","title":{"rendered":"eUCP Explained"},"content":{"rendered":"\n<div class=\"wp-block-columns container w-auto is-layout-flex wp-container-core-columns-is-layout-9d6595d7 wp-block-columns-is-layout-flex\">\n<div class=\"wp-block-column is-layout-flow wp-block-column-is-layout-flow\" style=\"flex-basis:33.33%\"><div class=\"block-header-without-image d-flex flex-direction-column justify-content-center\">\n    <h2 class=\"fs-32 fw-700 fs-xs-28 not-for-table-content\" id=\"heading-eucp-explained\">\n        eUCP Explained    <\/h2>\n    <div class=\"d-grid grid-col-2 grid-col-xs-1\">\n                            <div class=\"\">\n                <div>Last updated on 13 Jan 2025<\/div>\n                <div>18 Jul 2019 . 3 min read<\/div>\n            <\/div>\n            <\/div>\n    <\/div><\/div>\n\n\n\n<div class=\"wp-block-column is-layout-flow wp-block-column-is-layout-flow\" style=\"flex-basis:66.66%\"><figure class=\"wp-block-post-featured-image\"><img loading=\"lazy\" decoding=\"async\" width=\"869\" height=\"352\" src=\"https:\/\/www.tradefinanceglobal.com\/wp-content\/uploads\/2024\/05\/eUCP-Explained.jpg\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" style=\"object-fit:cover;\" srcset=\"https:\/\/www.tradefinanceglobal.com\/wp-content\/uploads\/2024\/05\/eUCP-Explained.jpg 869w, https:\/\/www.tradefinanceglobal.com\/wp-content\/uploads\/2024\/05\/eUCP-Explained-300x122.jpg 300w, https:\/\/www.tradefinanceglobal.com\/wp-content\/uploads\/2024\/05\/eUCP-Explained-768x311.jpg 768w, https:\/\/www.tradefinanceglobal.com\/wp-content\/uploads\/2024\/05\/eUCP-Explained-320x130.jpg 320w, https:\/\/www.tradefinanceglobal.com\/wp-content\/uploads\/2024\/05\/eUCP-Explained-370x150.jpg 370w, https:\/\/www.tradefinanceglobal.com\/wp-content\/uploads\/2024\/05\/eUCP-Explained-414x168.jpg 414w, https:\/\/www.tradefinanceglobal.com\/wp-content\/uploads\/2024\/05\/eUCP-Explained-600x243.jpg 600w, https:\/\/www.tradefinanceglobal.com\/wp-content\/uploads\/2024\/05\/eUCP-Explained-372x151.jpg 372w, https:\/\/www.tradefinanceglobal.com\/wp-content\/uploads\/2024\/05\/eUCP-Explained-450x182.jpg 450w, https:\/\/www.tradefinanceglobal.com\/wp-content\/uploads\/2024\/05\/eUCP-Explained-380x154.jpg 380w, https:\/\/www.tradefinanceglobal.com\/wp-content\/uploads\/2024\/05\/eUCP-Explained-285x115.jpg 285w\" sizes=\"auto, (max-width: 869px) 100vw, 869px\" \/><\/figure><\/div>\n<\/div>\n\n\n\n<div class=\"wp-block-columns container w-auto country-quick-link is-layout-flex wp-container-core-columns-is-layout-9d6595d7 wp-block-columns-is-layout-flex\">\n<div class=\"wp-block-column is-layout-flow wp-block-column-is-layout-flow\" style=\"flex-basis:35%\"><div class=\"block-buttons bg-anti-flash-white rounded p-24 h-100 xs-h-auto\" style=\"background-color: #f2f5f7 !important;\">\n  <div class=\"d-grid grid-col-1 grid-col-xs-1 mb-12\">\n    <h4 class=\"not-for-table-content fs-24 fw-700\" id=\"heading-most-popular\">Most popular<\/h4>\n  <\/div>\n  <div>\n          <a class=\"d-inline-block mr-10 mb-10 py-8 px-16 rounded bordered border-light text-black bg-white fs-14 fw-700\" href=\"https:\/\/www.tradefinanceglobal.com\/letters-of-credit\/\">\n        Introduction to Letters of Credit      <\/a>\n          <a class=\"d-inline-block mr-10 mb-10 py-8 px-16 rounded bordered border-light text-black bg-white fs-14 fw-700\" href=\"https:\/\/www.tradefinanceglobal.com\/letters-of-credit\/benefits-of-letters-of-credit\/\">\n        Benefits of Letters of Credit      <\/a>\n          <a class=\"d-inline-block mr-10 mb-10 py-8 px-16 rounded bordered border-light text-black bg-white fs-14 fw-700\" href=\"https:\/\/www.tradefinanceglobal.com\/letters-of-credit\/handling-document-discrepancies\/\">\n        Handling Document Discrepancies      <\/a>\n          <a class=\"d-inline-block mr-10 mb-10 py-8 px-16 rounded bordered border-light text-black bg-white fs-14 fw-700\" href=\"https:\/\/www.tradefinanceglobal.com\/letters-of-credit\/swift-messaging-types\/\">\n        SWIFT Messaging Types      <\/a>\n          <a class=\"d-inline-block mr-10 mb-10 py-8 px-16 rounded bordered border-light text-black bg-white fs-14 fw-700\" href=\"https:\/\/www.tradefinanceglobal.com\/letters-of-credit\/parties-involved\/\">\n        Parties Involved      <\/a>\n          <a class=\"d-inline-block mr-10 mb-10 py-8 px-16 rounded bordered border-light text-black bg-white fs-14 fw-700\" href=\"https:\/\/www.tradefinanceglobal.com\/letters-of-credit\/financial-crime-fraud-and-sanctions\/\">\n        Financial Crime, Fraud &#038; Sanctions      <\/a>\n          <a class=\"d-inline-block mr-10 mb-10 py-8 px-16 rounded bordered border-light text-black bg-white fs-14 fw-700\" href=\"https:\/\/www.tradefinanceglobal.com\/letters-of-credit\/documentary-collections\/courses\/\">\n        Letters of Credit Courses      <\/a>\n      <\/div>\n<\/div><\/div>\n\n\n\n<div class=\"wp-block-column is-layout-flow wp-block-column-is-layout-flow\" style=\"flex-basis:22%\"><div class=\"block-buttons bg-anti-flash-white rounded p-24 h-100 xs-h-auto\" style=\"background-color: #ebf5f4 !important;\">\n  <div class=\"d-grid grid-col-1 grid-col-xs-1 mb-12\">\n    <h4 class=\"not-for-table-content fs-24 fw-700\" id=\"heading-research-and-guides\">Research and Guides<\/h4>\n  <\/div>\n  <div>\n          <a class=\"d-inline-block mr-10 mb-10 py-8 px-16 rounded bordered border-light text-black bg-white fs-14 fw-700\" href=\"https:\/\/www.tradefinanceglobal.com\/letters-of-credit\/ucp-600-ultimate-guide\/\">\n        UCP 600 \u2013 Ultimate Guide      <\/a>\n          <a class=\"d-inline-block mr-10 mb-10 py-8 px-16 rounded bordered border-light text-black bg-white fs-14 fw-700\" href=\"https:\/\/www.tradefinanceglobal.com\/editions\/letters-of-credit-research-2022\/\">\n        Research      <\/a>\n          <a class=\"d-inline-block mr-10 mb-10 py-8 px-16 rounded bordered border-light text-black bg-white fs-14 fw-700\" href=\"https:\/\/www.tradefinanceglobal.com\/letters-of-credit\/baft-guide\/\">\n        BAFT &#038; TFG Guide      <\/a>\n          <a class=\"d-inline-block mr-10 mb-10 py-8 px-16 rounded bordered border-light text-black bg-white fs-14 fw-700\" href=\"https:\/\/www.tradefinanceglobal.com\/letters-of-credit\/digitalisation-and-the-future\/\">\n        Digitalisation &#038; the Future      <\/a>\n          <a class=\"d-inline-block mr-10 mb-10 py-8 px-16 rounded bordered border-light text-black bg-white fs-14 fw-700\" href=\"https:\/\/www.tradefinanceglobal.com\/letters-of-credit\/documentary-collections\/\">\n        Documentary Collections      <\/a>\n          <a class=\"d-inline-block mr-10 mb-10 py-8 px-16 rounded bordered border-light text-black bg-white fs-14 fw-700\" href=\"https:\/\/www.tradefinanceglobal.com\/finance-products\/promissory-notes-bills-of-exchange\/\">\n        Promissory Notes and Bills of Exchange      <\/a>\n      <\/div>\n<\/div><\/div>\n\n\n\n<div class=\"wp-block-column is-layout-flow wp-block-column-is-layout-flow\" style=\"flex-basis:22%\"><div class=\"block-buttons bg-anti-flash-white rounded p-24 h-100 xs-h-auto\" style=\"background-color: #e5f5ff !important;\">\n  <div class=\"d-grid grid-col-1 grid-col-xs-1 mb-12\">\n    <h4 class=\"not-for-table-content fs-24 fw-700\" id=\"heading-rules\">Rules<\/h4>\n  <\/div>\n  <div>\n          <a class=\"d-inline-block mr-10 mb-10 py-8 px-16 rounded bordered border-light text-black bg-white fs-14 fw-700\" href=\"https:\/\/www.tradefinanceglobal.com\/letters-of-credit\/letters-of-credit-rules\/\">\n        Letters of Credit Rules      <\/a>\n          <a class=\"d-inline-block mr-10 mb-10 py-8 px-16 rounded bordered border-light text-black bg-white fs-14 fw-700\" href=\"https:\/\/www.tradefinanceglobal.com\/letters-of-credit\/ucp-600\/\">\n        UCP 600      <\/a>\n          <a class=\"d-inline-block mr-10 mb-10 py-8 px-16 rounded bordered border-light text-black bg-white fs-14 fw-700\" href=\"https:\/\/www.tradefinanceglobal.com\/letters-of-credit\/eucp\/\">\n        eUCP Explained      <\/a>\n          <a class=\"d-inline-block mr-10 mb-10 py-8 px-16 rounded bordered border-light text-black bg-white fs-14 fw-700\" href=\"https:\/\/www.tradefinanceglobal.com\/letters-of-credit\/urc-522-eurc\/\">\n        URC 522 &amp; eURC      <\/a>\n          <a class=\"d-inline-block mr-10 mb-10 py-8 px-16 rounded bordered border-light text-black bg-white fs-14 fw-700\" href=\"https:\/\/www.tradefinanceglobal.com\/letters-of-credit\/isbp-821\/\">\n        ISBP 821      <\/a>\n          <a class=\"d-inline-block mr-10 mb-10 py-8 px-16 rounded bordered border-light text-black bg-white fs-14 fw-700\" href=\"https:\/\/www.tradefinanceglobal.com\/letters-of-credit\/presentation-of-documents\/\">\n        Presentation of Documents      <\/a>\n          <a class=\"d-inline-block mr-10 mb-10 py-8 px-16 rounded bordered border-light text-black bg-white fs-14 fw-700\" href=\"https:\/\/www.tradefinanceglobal.com\/letters-of-credit\/dispute-resolution\/\">\n        Dispute Resolution      <\/a>\n      <\/div>\n<\/div><\/div>\n\n\n\n<div class=\"wp-block-column is-layout-flow wp-block-column-is-layout-flow\" style=\"flex-basis:22%\"><div class=\"block-buttons bg-anti-flash-white rounded p-24 h-100 xs-h-auto\" style=\"background-color: #E6FAFE !important;\">\n  <div class=\"d-grid grid-col-1 grid-col-xs-1 mb-12\">\n    <h4 class=\"not-for-table-content fs-24 fw-700\" id=\"heading-types\">Types<\/h4>\n  <\/div>\n  <div>\n          <a class=\"d-inline-block mr-10 mb-10 py-8 px-16 rounded bordered border-light text-black bg-white fs-14 fw-700\" href=\"https:\/\/www.tradefinanceglobal.com\/letters-of-credit\/types-of-credit\/\">\n        Types of Credit      <\/a>\n          <a class=\"d-inline-block mr-10 mb-10 py-8 px-16 rounded bordered border-light text-black bg-white fs-14 fw-700\" href=\"https:\/\/www.tradefinanceglobal.com\/letters-of-credit\/restricted-letters-of-credit\/\">\n        Restricted Letters of Credit      <\/a>\n          <a class=\"d-inline-block mr-10 mb-10 py-8 px-16 rounded bordered border-light text-black bg-white fs-14 fw-700\" href=\"https:\/\/www.tradefinanceglobal.com\/letters-of-credit\/difference-between-lcs-and-bank-guarantees\/\">\n        Letters of Credit vs Bank Guarantees      <\/a>\n          <a class=\"d-inline-block mr-10 mb-10 py-8 px-16 rounded bordered border-light text-black bg-white fs-14 fw-700\" href=\"https:\/\/www.tradefinanceglobal.com\/letters-of-credit\/standby-letter-of-credit-sblc\/\">\n        Standby Letters of Credit      <\/a>\n          <a class=\"d-inline-block mr-10 mb-10 py-8 px-16 rounded bordered border-light text-black bg-white fs-14 fw-700\" href=\"https:\/\/www.tradefinanceglobal.com\/letters-of-credit\/sight-lcs\/\">\n        Sight Letters of Credit      <\/a>\n      <\/div>\n<\/div><\/div>\n<\/div>\n\n\n\n<div class=\"wp-block-columns container w-auto is-layout-flex wp-container-core-columns-is-layout-9d6595d7 wp-block-columns-is-layout-flex\">\n<div class=\"wp-block-column is-layout-flow wp-block-column-is-layout-flow\" style=\"flex-basis:33.33%\">\n<p><\/p>\n\n\n\n<p><\/p>\n\n\n<div class=\"bg-light-blue d-flex gap-16 h-auto p-16 rounded xs-flex-direction-column\">\n    <div class=\"\">\n    <img decoding=\"async\" style=\"min-width:100px;max-width: 150px\" src=\"https:\/\/secure.gravatar.com\/avatar\/adbea0e7d528d8822bada7096c1e6ea9?s=160&#038;d=mm&#038;r=g\" class=\"w-100 rounded\">\n  <\/div>\n  <div class=\"col-span-2 col-span-xs-1\">\n    <div class=\"d-flex flex-direction-column gap-16 fs-16 justify-content-between\">\n      <div class=\"fs-16 fw-700\">Mark Abrams<\/div>\n      <div class=\"fs-14 fw-400 elipsise-2-line\" title=\"Mark heads up the trade finance offering at TFG where\u00a0his team focuses on bringing in alternative structured finance to international trading companies.\">\n        Mark heads up the trade finance offering at TFG where\u00a0his team focuses on bringing in alternative structured finance to international trading companies.      <\/div>\n      <div>\n        <a class=\"text-black fs-12 small-link-arrow-right\" href=\"https:\/\/www.tradefinanceglobal.com\/posts\/?author=74\">\n          <span>\n            Latest Post          <\/span>\n        <\/a>\n      <\/div>\n    <\/div>\n  <\/div>\n<\/div>\n\n\n<p><\/p>\n\n\n\n<p><\/p>\n\n\n<div style=\"min-height:100px!important;\" class=\"block-cta max-w-100 p-32 h-auto rounded sm-w-60 dark-mode bg-black align wp-block-acf-block-cta\">\n  <h4 id=\"heading-access-trade-receivables-and-supply-chain-finance\" class=\"fs-24 fw-700 elipsise-2-line dark:color-white not-for-table-content\">\n    Access trade, receivables and supply chain finance  <\/h4>\n  <p class=\"block-subtitle dark:color-white\">We assist companies to access trade and receivables finance through our relationships with 270+ banks, funds and alternative finance houses.<\/p>\n  <a href=\"\/\" class=\"dark:text-black px-16 py-8 rounded bg-black text-white fs-14 fw-700 dark:bg-tale\">\n    <span>Get Started<\/span>\n  <\/a>\n<\/div>\n\n<div class=\"block-cta p-24 h-auto rounded\">\n    <h4 id=\"heading-\" class=\"fs-24 fw-700 elipsise-2-line dark:color-white not-for-table-content\">\n      <\/h4>\n  <p class=\"fs-16 fw-400 dark:color-white\">Download our our free Letters of Credit guide<\/p>\n  <div class=\"mb-20\">\n    <img loading='lazy' alt='Letters-of-Credit' style='width:auto; height:200px'  width='auto' height='auto' src='https:\/\/www.tradefinanceglobal.com\/wp-content\/uploads\/2024\/05\/Letters-of-Credit-150x150.jpg' srcset='https:\/\/www.tradefinanceglobal.com\/wp-content\/uploads\/2024\/05\/Letters-of-Credit-300x300.jpg 300w, https:\/\/www.tradefinanceglobal.com\/wp-content\/uploads\/2024\/05\/Letters-of-Credit-150x150.jpg 150w, https:\/\/www.tradefinanceglobal.com\/wp-content\/uploads\/2024\/05\/Letters-of-Credit-320x320.jpg 320w, https:\/\/www.tradefinanceglobal.com\/wp-content\/uploads\/2024\/05\/Letters-of-Credit-370x370.jpg 370w, https:\/\/www.tradefinanceglobal.com\/wp-content\/uploads\/2024\/05\/Letters-of-Credit-414x414.jpg 414w, https:\/\/www.tradefinanceglobal.com\/wp-content\/uploads\/2024\/05\/Letters-of-Credit-200x200.jpg 200w, https:\/\/www.tradefinanceglobal.com\/wp-content\/uploads\/2024\/05\/Letters-of-Credit-250x250.jpg 250w, https:\/\/www.tradefinanceglobal.com\/wp-content\/uploads\/2024\/05\/Letters-of-Credit-162x162.jpg 162w, https:\/\/www.tradefinanceglobal.com\/wp-content\/uploads\/2024\/05\/Letters-of-Credit-159x159.jpg 159w, https:\/\/www.tradefinanceglobal.com\/wp-content\/uploads\/2024\/05\/Letters-of-Credit-123x123.jpg 123w, https:\/\/www.tradefinanceglobal.com\/wp-content\/uploads\/2024\/05\/Letters-of-Credit-190x190.jpg 190w, https:\/\/www.tradefinanceglobal.com\/wp-content\/uploads\/2024\/05\/Letters-of-Credit.jpg 600w' \/>  <\/div>\n      <a href=\"https:\/\/www.tradefinanceglobal.com\/login\/?redirect_url=https%3A%2F%2Fwww.tradefinanceglobal.com%2Fwp-json%2Fwp%2Fv2%2Fpages%2F22368\"  class=\"dark:text-black px-16 py-8 rounded bg-black text-white fs-14 fw-700 dark:bg-tale\">\n      <span>Download<\/span>\n    <\/a>\n    <\/div>\n\n\n<p><\/p>\n\n\n\n<figure class=\"wp-block-image size-large is-resized\"><a href=\"https:\/\/www.libf.ac.uk\/professional-qualifications\/trade-and-transaction-banking\/certificate-for-documentary-credit-specialists-cdcs\/?utm_source=TFG+-+CDCS&amp;utm_medium=MPU+banner&amp;utm_campaign=TFG+-+CDCS+campaign\" target=\"_blank\" rel=\"noreferrer noopener\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"1024\" src=\"https:\/\/www.tradefinanceglobal.com\/wp-content\/uploads\/2024\/07\/CDCS-MPU-1024x1024.gif\" alt=\"\" class=\"wp-image-126577\" style=\"width:256px;height:256px\" srcset=\"https:\/\/www.tradefinanceglobal.com\/wp-content\/uploads\/2024\/07\/CDCS-MPU-1024x1024.gif 1024w, https:\/\/www.tradefinanceglobal.com\/wp-content\/uploads\/2024\/07\/CDCS-MPU-300x300.gif 300w, https:\/\/www.tradefinanceglobal.com\/wp-content\/uploads\/2024\/07\/CDCS-MPU-150x150.gif 150w, https:\/\/www.tradefinanceglobal.com\/wp-content\/uploads\/2024\/07\/CDCS-MPU-768x768.gif 768w, https:\/\/www.tradefinanceglobal.com\/wp-content\/uploads\/2024\/07\/CDCS-MPU-320x320.gif 320w, https:\/\/www.tradefinanceglobal.com\/wp-content\/uploads\/2024\/07\/CDCS-MPU-370x370.gif 370w, https:\/\/www.tradefinanceglobal.com\/wp-content\/uploads\/2024\/07\/CDCS-MPU-414x414.gif 414w, https:\/\/www.tradefinanceglobal.com\/wp-content\/uploads\/2024\/07\/CDCS-MPU-200x200.gif 200w, https:\/\/www.tradefinanceglobal.com\/wp-content\/uploads\/2024\/07\/CDCS-MPU-250x250.gif 250w, https:\/\/www.tradefinanceglobal.com\/wp-content\/uploads\/2024\/07\/CDCS-MPU-162x162.gif 162w, https:\/\/www.tradefinanceglobal.com\/wp-content\/uploads\/2024\/07\/CDCS-MPU-159x159.gif 159w, https:\/\/www.tradefinanceglobal.com\/wp-content\/uploads\/2024\/07\/CDCS-MPU-123x123.gif 123w, https:\/\/www.tradefinanceglobal.com\/wp-content\/uploads\/2024\/07\/CDCS-MPU-190x190.gif 190w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><\/a><\/figure>\n\n\n\n<p>ADVERTISEMENT<\/p>\n\n\n\n<p><\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-contents\">Contents<\/h2>\n\n\n<div class=\"block-table-content h-auto bg-white auto\">\n    <ul class=\"table-content\"><\/ul><\/div><\/div>\n\n\n\n<div class=\"wp-block-column is-layout-flow wp-block-column-is-layout-flow\" style=\"flex-basis:66.66%\">\n<p><\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-eucp-explained\">eUCP Explained<\/h2>\n\n\n\n<p class=\"bg-tale rounded p-24 h-auto\" style=\"font-size:16px\">The ICC recently issued a supplement on the latest eRules for the Uniform Customs &amp; Practice for Documentary Credits (eUCP 600). This is the second version (V2.0). Here, we summarise the key changes in the eUCP documentation, and how this supplements UCP rules.<\/p>\n\n\n\n<p><\/p>\n\n\n\n<h2 class=\"wp-block-heading\">What is UCP?<\/h2>\n\n\n\n<p style=\"font-size:16px\">The Uniform Customs &amp; Practice for Documentary Credits (<a href=\"https:\/\/www.tradefinanceglobal.com\/letters-of-credit\/ucp-600\/\">UCP 600<\/a>) is a set of rules agreed by the International Chamber of Commerce (ICC), which apply to finance institutions which issue&nbsp;<a href=\"https:\/\/www.tradefinanceglobal.com\/letters-of-credit\/\">Letters of Credit<\/a>. Used by letter of credit practitioners worldwide, UCP are the most successful private rules for trade ever developed. Bankers, traders, lawyers, transporters, academics and all who deal with letter of credit transactions worldwide will refer to UCP 600 on a daily basis.<\/p>\n\n\n\n<p><\/p>\n\n\n\n<h2 class=\"wp-block-heading\">eRules and the eUCP<\/h2>\n\n\n\n<p style=\"font-size:16px\">To advance the digitalisation of trade finance practices , ICC issued new electronic rules (eRules); they came into effect on the 1st of July. The eRules will be continually monitored and updated to reflect future technological developments and trends that emerge in trade finance. ICC will ensure that the eRules remain applicable to banks and other trade finance institutions. Acknowledging the significance of these rules for the work of trade finance professionals, ICC made the full text of&nbsp;<a href=\"https:\/\/cdn.iccwbo.org\/content\/uploads\/sites\/3\/2019\/06\/icc-uniform-rules-for-collections-v1-0.pdf\" target=\"_blank\" rel=\"noreferrer noopener\">eURC<\/a>&nbsp;and&nbsp;<a href=\"https:\/\/cdn.iccwbo.org\/content\/uploads\/sites\/3\/2019\/06\/icc-uniform-customs-practice-credits-v2-0.pdf\" target=\"_blank\" rel=\"noreferrer noopener\">eUCP&nbsp;<\/a>available online. ICC has also published an in depth&nbsp;<a href=\"https:\/\/cdn.iccwbo.org\/content\/uploads\/sites\/3\/2019\/07\/icc-commentary-on-eucp-2-0-and-eurc-1-0-article-by-article-analysis.pdf\" target=\"_blank\" rel=\"noreferrer noopener\">guidance<\/a>&nbsp;of the changes in the&nbsp;<a href=\"https:\/\/cdn.iccwbo.org\/content\/uploads\/sites\/3\/2019\/06\/icc-uniform-customs-practice-credits-v2-0.pdf\" target=\"_blank\" rel=\"noreferrer noopener\">eUCP v1.1 to v2.0<\/a>&nbsp;and the newly drafted&nbsp;<a href=\"https:\/\/cdn.iccwbo.org\/content\/uploads\/sites\/3\/2019\/06\/icc-uniform-rules-for-collections-v1-0.pdf\" target=\"_blank\" rel=\"noreferrer noopener\">eURC v 1.0<\/a>.<\/p>\n\n\n\n<p style=\"font-size:16px\">The content of the eRules will be continually monitored in order to ensure they work in the context of electronic documentation and trade. The eUCP will be continuously reviewed by trade practioners to feed back updates and monitor eUCP in practise.<\/p>\n\n\n\n<p style=\"font-size:16px\">In the following page we will provide you with a line by line summary of eUCP v 2.0 and key changes.<\/p>\n\n\n\n<p><\/p>\n\n\n\n<h2 class=\"wp-block-heading\">What changed in the electronic presentation for UCP (eUCP)?<\/h2>\n\n\n\n<h3 class=\"wp-block-heading\">Preliminary Considerations<\/h3>\n\n\n\n<ul class=\"wp-block-list\" style=\"font-size:16px\">\n<li>Introduced in eUCP Version 2.0 for the first time<\/li>\n<\/ul>\n\n\n\n<h4 class=\"wp-block-heading\">Article e1<\/h4>\n\n\n\n<ul class=\"wp-block-list\" style=\"font-size:16px\">\n<li>Scope of the Uniform Customs and Practice for Documentary Credits (UCP 600) Supplement for Electronic Presentations (\u201ceUCP\u201d)<\/li>\n\n\n\n<li>Heading re-worded in order to add the shorthand rendition \u201ceUCP\u201d<\/li>\n\n\n\n<li>Minor structural changes<\/li>\n\n\n\n<li>Clarification that if an eUCP credit does not indicate the applicable version of the eUCP, it is subject to the latest version<\/li>\n\n\n\n<li>Addition of the requirement to add a physical location of a bank<\/li>\n<\/ul>\n\n\n\n<h4 class=\"wp-block-heading\">Article e2 (Relationship of the eUCP to the UCP)<\/h4>\n\n\n\n<ul class=\"wp-block-list\" style=\"font-size:16px\">\n<li style=\"font-size:16px\">Minor structural changes<\/li>\n<\/ul>\n\n\n\n<h4 class=\"wp-block-heading\">Article e3<\/h4>\n\n\n\n<ul class=\"wp-block-list\" style=\"font-size:16px\">\n<li style=\"font-size:16px\">Definitions<\/li>\n\n\n\n<li style=\"font-size:16px\">Minor structural changes<\/li>\n\n\n\n<li style=\"font-size:16px\">Format of each term reflects that used in UCP 600<\/li>\n\n\n\n<li style=\"font-size:16px\">Addition of \u201cdata processing system\u201d to the \u201cplace for presentation\u201d<\/li>\n\n\n\n<li style=\"font-size:16px\">New definition for \u201cPresenter\u201d<\/li>\n\n\n\n<li style=\"font-size:16px\">New definition for \u201cData corruption\u201d<\/li>\n\n\n\n<li style=\"font-size:16px\">New definition for \u201cData processing system\u201d<\/li>\n\n\n\n<li style=\"font-size:16px\">Definition of \u201cElectronic record\u201d expanded to include logically associated information<\/li>\n\n\n\n<li style=\"font-size:16px\">Deleted the word \u201ctraditional\u201d from the definition of \u201cpaper\u201d<\/li>\n\n\n\n<li style=\"font-size:16px\">Definition of \u201cReceived\u201d now refers to a data processing system, and includes added reference to viewing and examination<\/li>\n\n\n\n<li style=\"font-size:16px\">New definition for \u201cRe-present\u201d and \u201cre-presented\u201d<\/li>\n<\/ul>\n\n\n\n<h4 class=\"wp-block-heading\">Article e4 (New Article)<\/h4>\n\n\n\n<ul class=\"wp-block-list\" style=\"font-size:16px\">\n<li style=\"font-size:16px\">Electronic Records and Paper Documents v. Goods, Services or Performance<\/li>\n<\/ul>\n\n\n\n<h4 class=\"wp-block-heading\">&nbsp;Article e5<\/h4>\n\n\n\n<ul class=\"wp-block-list\" style=\"font-size:16px\">\n<li style=\"font-size:16px\">Format<\/li>\n\n\n\n<li style=\"font-size:16px\">Minor structural changes<\/li>\n<\/ul>\n\n\n\n<h4 class=\"wp-block-heading\">Article e6<\/h4>\n\n\n\n<ul class=\"wp-block-list\" style=\"font-size:16px\">\n<li style=\"font-size:16px\">Presentation<\/li>\n\n\n\n<li style=\"font-size:16px\">Structural and grammatical changes<\/li>\n\n\n\n<li style=\"font-size:16px\">Amend \u2018beneficiary\u2019 to \u2018presenter\u2019<\/li>\n\n\n\n<li style=\"font-size:16px\">More precise explanation as to which banks are impacted<\/li>\n\n\n\n<li style=\"font-size:16px\">Clarification that the notice of completeness acts as notification that the presentation is complete<\/li>\n\n\n\n<li style=\"font-size:16px\">Clarification that the period for examination commences upon receipt of the notice of completeness<\/li>\n\n\n\n<li style=\"font-size:16px\">A notice of completeness is not required in the forwarding of electronic records by a nominated bank to a confirming or issuing bank<\/li>\n\n\n\n<li style=\"font-size:16px\">Additional methods are added in order to identify an eUCP credit<\/li>\n\n\n\n<li style=\"font-size:16px\">In the event that the expiry date and\/or last day for presentation are extended, it should be indicated in the covering schedule that this is in accordance with the rules<\/li>\n<\/ul>\n\n\n\n<h4 class=\"wp-block-heading\">Article e7<\/h4>\n\n\n\n<ul class=\"wp-block-list\" style=\"font-size:16px\">\n<li style=\"font-size:16px\">Examination<\/li>\n\n\n\n<li style=\"font-size:16px\">Sub-articles moved from the previous article e7 (Notice of Refusal)<\/li>\n\n\n\n<li style=\"font-size:16px\">Minor structural changes<\/li>\n\n\n\n<li style=\"font-size:16px\">Expansion to nominated bank acting on its nomination, a confirming bank, if any, or the issuing bank<\/li>\n\n\n\n<li style=\"font-size:16px\">Clarification that the forwarding of electronic records by a nominated bank indicates that it has satisfied itself as to the apparent authenticity of the records<\/li>\n\n\n\n<li style=\"font-size:16px\">Addition of a sub-article to address the inability of an issuing bank or confirming bank to access electronic records already found compliant by a nominated bank<\/li>\n<\/ul>\n\n\n\n<h4 class=\"wp-block-heading\">&nbsp;Article e8<\/h4>\n\n\n\n<ul class=\"wp-block-list\" style=\"font-size:16px\">\n<li style=\"font-size:16px\">Notice of Refusal<\/li>\n\n\n\n<li style=\"font-size:16px\">Minor structural changes<\/li>\n\n\n\n<li style=\"font-size:16px\">Sub-articles moved for relevance to new article e7 (Examination)<\/li>\n<\/ul>\n\n\n\n<h4 class=\"wp-block-heading\">Article e9<\/h4>\n\n\n\n<ul class=\"wp-block-list\" style=\"font-size:16px\">\n<li style=\"font-size:16px\">Originals and Copies<\/li>\n\n\n\n<li style=\"font-size:16px\">Minor structural changes<\/li>\n<\/ul>\n\n\n\n<h4 class=\"wp-block-heading\">Article e10<\/h4>\n\n\n\n<ul class=\"wp-block-list\" style=\"font-size:16px\">\n<li style=\"font-size:16px\">Date of Issuance<\/li>\n\n\n\n<li style=\"font-size:16px\">Change of emphasis in that an electronic record must now be dated<\/li>\n<\/ul>\n\n\n\n<h4 class=\"wp-block-heading\">Article e11<\/h4>\n\n\n\n<ul class=\"wp-block-list\" style=\"font-size:16px\">\n<li style=\"font-size:16px\">Transport<\/li>\n\n\n\n<li style=\"font-size:16px\">Addition of \u2018taking in charge\u2019 and \u2018goods accepted for carriage\u2019<\/li>\n\n\n\n<li style=\"font-size:16px\">Minor structural changes<\/li>\n<\/ul>\n\n\n\n<h4 class=\"wp-block-heading\">Article e12<\/h4>\n\n\n\n<ul class=\"wp-block-list\" style=\"font-size:16px\">\n<li style=\"font-size:16px\">Data Corruption of an Electronic Record<\/li>\n\n\n\n<li style=\"font-size:16px\">Title of article amended for preciseness<\/li>\n\n\n\n<li style=\"font-size:16px\">Clarification of the role of the banks<\/li>\n\n\n\n<li style=\"font-size:16px\">Minor structural changes<\/li>\n<\/ul>\n\n\n\n<h4 class=\"wp-block-heading\">Article e13<\/h4>\n\n\n\n<ul class=\"wp-block-list\" style=\"font-size:16px\">\n<li style=\"font-size:16px\">Additional Disclaimer of Liability for Presentation of Electronic Records under eUCP<\/li>\n\n\n\n<li style=\"font-size:16px\">Minor structural changes<\/li>\n\n\n\n<li style=\"font-size:16px\">Reference to a data processing system<\/li>\n\n\n\n<li style=\"font-size:16px\">Banks are liable for their own data processing systems<\/li>\n<\/ul>\n\n\n\n<h4 class=\"wp-block-heading\"><strong>Article e14 (New Article)<\/strong><\/h4>\n\n\n\n<ul class=\"wp-block-list\" style=\"font-size:16px\">\n<li style=\"font-size:16px\">Force majeure<\/li>\n<\/ul>\n\n\n\n<p><\/p>\n\n\n<\/div>\n<\/div>\n\n\n\n<div style=\"height:30px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<div style=\"height:30px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n<section class=\"full-width block-slider_with_text py-10\" data-block=\"slider_with_text\" data-theme=\"dark\">\n  <div class=\"container overflow-hidden\">\n    <div class=\"slider-text-block\">\n      <div class=\"slider-text-block-container\">\n        <h2 id=\"heading-explore-our-financing-solutions\" class=\"elipsise-2-line word-wrap not-for-table-content\">\n          Explore our financing solutions        <\/h2>\n        <span class=\"block-subtitle elipsise-2-line word-wrap\">How TFG are helping to finance tomorrow&#8217;s trade<\/span>\n                  <a href=\"\/get-trade-finance\/\" class=\"button-standart button-standart-blue\">\n            <span>Find out more<\/span>\n          <\/a>\n              <\/div>\n    <\/div>\n    <div class=\"swiper-container\" data-slides-desktop=\"2\" data-slides-tablet=\"1.5\" data-slides-mobile=\"1\" data-space-between=\"32\">\n      <div class=\"swiper-wrapper\">\n                  <div class=\"swiper-slide\">\n            <div class=\"post-slide post-slide-small\">\n              <div class=\"post-information\">\n                <div class=\"post-card-meta\">\n                  <div class=\"meta-category\">\n                    Case Studies                  <\/div>\n                <\/div>\n                <div class=\"post-title\">\n                  <h4>\n                    <a href=\"https:\/\/www.tradefinanceglobal.com\/case-studies\/metals-trader\/\" rel=\"bookmark\" class=\"elipsise-2-line\">\n                      Metals trader &#8211; A case study                    <\/a>\n                  <\/h4>\n                <\/div>\n              <\/div>\n                              <div class=\"post-image\">\n                  <a href=\"https:\/\/www.tradefinanceglobal.com\/case-studies\/metals-trader\/\" rel=\"bookmark\">\n                    <img loading=\"lazy\" decoding=\"async\" width=\"869\" height=\"352\" src=\"https:\/\/www.tradefinanceglobal.com\/wp-content\/uploads\/2024\/08\/Metals-trader-\u2013-A-case-study1.jpg\" class=\"attachment-large size-large wp-post-image\" alt=\"\" srcset=\"https:\/\/www.tradefinanceglobal.com\/wp-content\/uploads\/2024\/08\/Metals-trader-\u2013-A-case-study1.jpg 869w, https:\/\/www.tradefinanceglobal.com\/wp-content\/uploads\/2024\/08\/Metals-trader-\u2013-A-case-study1-300x122.jpg 300w, https:\/\/www.tradefinanceglobal.com\/wp-content\/uploads\/2024\/08\/Metals-trader-\u2013-A-case-study1-768x311.jpg 768w, https:\/\/www.tradefinanceglobal.com\/wp-content\/uploads\/2024\/08\/Metals-trader-\u2013-A-case-study1-320x130.jpg 320w, https:\/\/www.tradefinanceglobal.com\/wp-content\/uploads\/2024\/08\/Metals-trader-\u2013-A-case-study1-370x150.jpg 370w, https:\/\/www.tradefinanceglobal.com\/wp-content\/uploads\/2024\/08\/Metals-trader-\u2013-A-case-study1-414x168.jpg 414w, 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class=\"meta-category\">\n                    Case Studies                  <\/div>\n                <\/div>\n                <div class=\"post-title\">\n                  <h4>\n                    <a href=\"https:\/\/www.tradefinanceglobal.com\/case-studies\/soft-commodities-trader\/\" rel=\"bookmark\" class=\"elipsise-2-line\">\n                      Soft commodities trader &#8211; A case study                    <\/a>\n                  <\/h4>\n                <\/div>\n              <\/div>\n                              <div class=\"post-image\">\n                  <a href=\"https:\/\/www.tradefinanceglobal.com\/case-studies\/soft-commodities-trader\/\" rel=\"bookmark\">\n                    <img loading=\"lazy\" decoding=\"async\" width=\"869\" height=\"352\" src=\"https:\/\/www.tradefinanceglobal.com\/wp-content\/uploads\/2024\/08\/Soft-commodities-trader-\u2013-A-case-study2.jpg\" class=\"attachment-large size-large wp-post-image\" alt=\"\" srcset=\"https:\/\/www.tradefinanceglobal.com\/wp-content\/uploads\/2024\/08\/Soft-commodities-trader-\u2013-A-case-study2.jpg 869w, https:\/\/www.tradefinanceglobal.com\/wp-content\/uploads\/2024\/08\/Soft-commodities-trader-\u2013-A-case-study2-300x122.jpg 300w, https:\/\/www.tradefinanceglobal.com\/wp-content\/uploads\/2024\/08\/Soft-commodities-trader-\u2013-A-case-study2-768x311.jpg 768w, https:\/\/www.tradefinanceglobal.com\/wp-content\/uploads\/2024\/08\/Soft-commodities-trader-\u2013-A-case-study2-320x130.jpg 320w, https:\/\/www.tradefinanceglobal.com\/wp-content\/uploads\/2024\/08\/Soft-commodities-trader-\u2013-A-case-study2-370x150.jpg 370w, https:\/\/www.tradefinanceglobal.com\/wp-content\/uploads\/2024\/08\/Soft-commodities-trader-\u2013-A-case-study2-414x168.jpg 414w, https:\/\/www.tradefinanceglobal.com\/wp-content\/uploads\/2024\/08\/Soft-commodities-trader-\u2013-A-case-study2-600x243.jpg 600w, 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<\/div>\n                <div class=\"post-title\">\n                  <h4>\n                    <a href=\"https:\/\/www.tradefinanceglobal.com\/case-studies\/food-distribution-company\/\" rel=\"bookmark\" class=\"elipsise-2-line\">\n                      Food distribution company &#8211; A case study                    <\/a>\n                  <\/h4>\n                <\/div>\n              <\/div>\n                              <div class=\"post-image\">\n                  <a href=\"https:\/\/www.tradefinanceglobal.com\/case-studies\/food-distribution-company\/\" rel=\"bookmark\">\n                    <img loading=\"lazy\" decoding=\"async\" width=\"869\" height=\"352\" src=\"https:\/\/www.tradefinanceglobal.com\/wp-content\/uploads\/2024\/08\/Food-distribution-company-\u2013-A-case-study2.jpg\" class=\"attachment-large size-large wp-post-image\" alt=\"\" srcset=\"https:\/\/www.tradefinanceglobal.com\/wp-content\/uploads\/2024\/08\/Food-distribution-company-\u2013-A-case-study2.jpg 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href=\"https:\/\/www.tradefinanceglobal.com\/case-studies\/energy-trading-group\/\" rel=\"bookmark\" class=\"elipsise-2-line\">\n                      Energy trading group &#8211; A case study                    <\/a>\n                  <\/h4>\n                <\/div>\n              <\/div>\n                              <div class=\"post-image\">\n                  <a href=\"https:\/\/www.tradefinanceglobal.com\/case-studies\/energy-trading-group\/\" rel=\"bookmark\">\n                    <img loading=\"lazy\" decoding=\"async\" width=\"869\" height=\"352\" src=\"https:\/\/www.tradefinanceglobal.com\/wp-content\/uploads\/2024\/08\/Energy-trading-group-\u2013-A-case-study2.jpg\" class=\"attachment-large size-large wp-post-image\" alt=\"\" srcset=\"https:\/\/www.tradefinanceglobal.com\/wp-content\/uploads\/2024\/08\/Energy-trading-group-\u2013-A-case-study2.jpg 869w, 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href=\"https:\/\/www.tradefinanceglobal.com\/case-studies\/hardware-distribution-company-ecommerce\/\" rel=\"bookmark\" class=\"elipsise-2-line\">\n                      Hardware distribution company in e-commerce &#8211; A case study                    <\/a>\n                  <\/h4>\n                <\/div>\n              <\/div>\n                              <div class=\"post-image\">\n                  <a href=\"https:\/\/www.tradefinanceglobal.com\/case-studies\/hardware-distribution-company-ecommerce\/\" rel=\"bookmark\">\n                    <img loading=\"lazy\" decoding=\"async\" width=\"869\" height=\"352\" src=\"https:\/\/www.tradefinanceglobal.com\/wp-content\/uploads\/2024\/07\/Hardware-distribution-company-in-e-commerce-\u2013-A-case-study.jpg\" class=\"attachment-large size-large wp-post-image\" alt=\"\" srcset=\"https:\/\/www.tradefinanceglobal.com\/wp-content\/uploads\/2024\/07\/Hardware-distribution-company-in-e-commerce-\u2013-A-case-study.jpg 869w, 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This is the second version (V2.0). Here,\u2026 <a href=\"https:\/\/www.tradefinanceglobal.com\/letters-of-credit\/eucp\/\" class=\"read-more-link\">read more &rarr;<\/a><\/p>\n","protected":false},"author":84,"featured_media":110521,"parent":10611,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":{"_acf_changed":false,"content-type":"","ep_exclude_from_search":false,"footnotes":""},"categories":[2129],"class_list":["post-22368","page","type-page","status-publish","has-post-thumbnail","hentry","category-letters-of-credit"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v24.7 (Yoast SEO v24.7) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>eUCP Explained<\/title>\n<meta name=\"description\" content=\"[UPDATED 2025] The ICC recently issued a supplement on the latest eRules for the Uniform Customs &amp; Practice for Documentary Credits (eUCP 600). This is the second version (V2.0). 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