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2008•Journal of Nantong Textile Vocational Technology CollegeRequires access

Analysis of Some Modified Clauses in UCP600 Which Are Advantageous to Beneficiaries

Chen Wei-hua

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Abstract

Compared with UCP500,UCP600 has some different points,in which there are several clauses relatively advantageous to beneficiaries,such as cancellation of revocable letter of credit, definitude of meaning of negotiation, authorization of financing to the nominated bank and some regulations of the responsibility of issuing bank/confirmed bank for the lost documents. In order to instruct beneficiary to act according to 《UCP600》 effectively,these clauses should be analyzed earnestly.

About this research paper

What this paper is about

Compared with UCP500,UCP600 has some different points,in which there are several clauses relatively advantageous to beneficiaries,such as cancellation of revocable letter of credit, definitude of meaning of negotiation, authorization of financing to the nominated bank and some regulations of the responsibility of issuing bank/confirmed bank for the lost documents. In order to instruct beneficiary to act according to 《UCP600》 effectively,these clauses should be analyzed earnestly.

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Available abstract

Compared with UCP500,UCP600 has some different points,in which there are several clauses relatively advantageous to beneficiaries,such as cancellation of revocable letter of credit, definitude of meaning of negotiation, authorization of financing to the nominated bank and some regulations of the responsibility of issuing bank/confirmed bank for the lost documents. In order to instruct beneficiary to act according to 《UCP600》 effectively,these clauses should be analyzed earnestly.

Key concepts: Beneficiary, Letter of credit, Negotiation, Authorization, Order (exchange), Meaning (existential), Business, Actuarial science

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