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2008•Journal of Shandong Institute of Business and TechnologyRequires access

On New Rules of UCP600 in Documentary Credit Operation

Yang Jia-zheng

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Abstract

The Uniform Customs and Practice for Documentary Credits(UCP) are a set of international rules governing letter of credit practice.Since their first promulgation in 1933,the rules have been revised six times.The new rules have taken effect on Jul.1,2007.This article aims to elaborate on the differences between UCP500 and UCP600 in terms of their structure,content and language style.

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What this paper is about

The Uniform Customs and Practice for Documentary Credits(UCP) are a set of international rules governing letter of credit practice.Since their first promulgation in 1933,the rules have been revised six times.The new rules have taken effect on Jul.1,2007.This article aims to elaborate on the differences between UCP500 and UCP600 in terms of their structure,content and language style.

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Available abstract

The Uniform Customs and Practice for Documentary Credits(UCP) are a set of international rules governing letter of credit practice.Since their first promulgation in 1933,the rules have been revised six times.The new rules have taken effect on Jul.1,2007.This article aims to elaborate on the differences between UCP500 and UCP600 in terms of their structure,content and language style.

Key concepts: Promulgation, Style (visual arts), Set (abstract data type), Letter of credit, Documentary evidence, Law and economics, Linguistics, Business

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