ICC publishes enhanced User Guide to the eUCP
The ICC Banking Commission recently published an enhanced User Guide to the eUCP, including an outline of recommended preparations for the usage of the eUCP, along with a more in-depth analysis providing operational guidance for trade finance practitioners.
The User Guide is free to download from the ICC website.
The newly-released guide follows the 2019 release of the Banking Commission’s electronic supplements to the existing Uniform Customs and Practice for Documentary Credits (UCP 600) rules and Uniform Rules for Collections (URC 522); namely eUCP Version 2.0 and eURC Version 1.0.
According to a recent ICC bulletin to members of ICC National Committees / Groups and ICC Banking Commission members, “over the past year, these eRules, the eUCP in particular, have generated increasing attention as a means to mitigate the issues being faced with the handling of paper transactions. There is a growing realisation by practitioners that paper documents are causing delays and disruption.”