International Regulations/Uniform Customs and Practice – Electronic Supplement (eUCP)
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Unit 4.3-International Regulations |
Introduction | ICC | UCP | eUCP | Rules for Collections | International Court of Arbitration | INCOTERMS | WTO | Summary | Resources | Activities | Assessment |
Uniform Customs and Practice – Electronic Supplement (eUCP)
[edit | edit source]The electronic supplement to UCP 500 was first launched in April 2002. It was also updated and is now part of the UCP600. The eUCP provides a general framework of principles for dealing with the electronic documents (shipping, customs clearance and banking documents) being presented in letter of credit transactions. This document outlines the steps to authenticate documents and gives presentation requirements as well as the steps to take if a document is corrupted. The creation of this supplement shows the need and willingness of the ICC to maintain its currency in the world of business and the changes in technology that affect business.