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Agenda
Registration Information
*This seminar is available as on-site training only!
If you are interested in on-site training, please call customer service for information.
| The International Chamber of Commerce has approved the final draft of UCP 600 – you need to understand these rules to be successful. |
Customs and Practice for Documentary Credits, Version 600
The International Chamber of Commerce has approved the final draft of UCP 600. Used by letter of credit practitioners worldwide, the UCP are the most successful private rules for trade ever developed. They were first issued in 1933 by ICC, to overcome the conflicting laws on letter of credit in different countries, a set of rules created to bring uniformity to the field. Now firmly established, the Uniform Customs and Practice for Documentary Credits (UCP) are the essential ground rules for billions of dollars in trade transactions every year.
“MUST HAVE” KNOWLEDGE ABOUT UCP 600
The revision, which came into effect on July 1, 2007, incorporates a number of changes from the UCP 500. These changes include:
- A reduction in the number of articles from 49 to 39
- New articles on “Definitions” and “Interpretations” providing more clarity and precision in the rules
- A definitive description of negotiation as “purchase” of drafts of documents
- The replacement of the phrase “reasonable time” for acceptance or refusal of documents by a maximum period of five banking days
- New provisions allow for the discounting of deferred payment credits
- Banks can now accept an insurance document that contains reference to any exclusion clause
Everyone involved with a Letter of Credit needs to be knowledgeable about the way these “rules” apply to their transaction. These rules affect all parties involved in transactions covered by documentary credits including:
- Banks and other institutions that issue, confirm, or otherwise process them
- Buyers (applicants) who cause them to be issued
- Sellers (beneficiaries) who look to them for payment
- Service providers such as forwarders, carriers, customs brokers who provide or use the documents that the credits stipulate
Who Should Attend:
- Customs Brokers
- Forwarders
- Importers (L/C applicants)
- Exporters (L/C applicants
- Compliance Professional
- International Carriers
- International Consultants
- International Attorneys
- Farsighted International Bankers
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The 1-day Agenda for the UCP 600 Training includes:
8:00am – 8:30am
Registration and Continental Breakfast
8:30am – 4:30pm
• How UCP affects the Buyer (the applicant)
• How UCP affects the Seller (the beneficiary)
• Bank Obligations under UCP
• An in-depth discussion of each new article in UCP 600
• A comparison of UCP 500 – UCP 600
• Question and Answer discussion on each article
UCP 600
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Receive a complimentary copy of this valuable learning tool, for you to use both at the seminar and once you are back at the office. UCP 600 became effective on July 1, 2007. Anyone dealing in International Trade - at any level - must be familiar with these rules in order to compete and consistently finalize their transactions.
*This seminar is available as on-site training only!
If you are interested in on-site training, please call customer service for information.
Unz & Co. Customer Service at 800-631-3098
Registration
Register Online above or
Call Unz & Co. Customer Service at 800-631-3098 to register
- or -
 Click here for printable registration form (pdf format)
FAX seminar registration forms to: (732) 868-0260.
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