UCP-600(part-3)

UCP 600 - Article 10
Amendments
A. Except as otherwise provided by article 38, a credit can neither be amended nor cancelled without the
agreement of the issuing bank, the confirming bank, if any, and the beneficiary.
B. An issuing bank is irrevocably bound by an amendment as of the time it issues the amendment. A
confirming bank may extend its confirmation to an amendment and will be irrevocably bound as of the time
it advises the amendment. A confirming bank may, however, choose to advise an amendment without
extending its confirmation and, if so, it must inform the issuing bank without delay and inform the
beneficiary in its advice.
C. The terms and conditions of the original credit (or a credit incorporating previously accepted
amendments) will remain in force for the beneficiary until the beneficiary communicates its acceptance of
the amendment to the bank that advised such amendment. The beneficiary should give notification of
acceptance or rejection of an amendment. If the beneficiary fails to give such notification, a presentation
that complies with the credit and to any not yet accepted amendment will be deemed to be notification of
acceptance by the beneficiary of such amendment. As of that moment the credit will be amended.
D. A bank that advises an amendment should inform the bank from which it received the amendment of any
notification of acceptance or rejection.
E. Partial acceptance of an amendment is not allowed and will be deemed to be notification of rejection of
the amendment.
F. A provision in an amendment to the effect that the amendment shall enter into force unless rejected by
the beneficiary within a certain time shall be disregarded.
UCP 600 - Article 11
Teletransmitted and Pre-Advised Credits and Amendments
A. An authenticated teletransmission of a credit or amendment will be deemed to be the operative credit or
amendment, and any subsequent mail confirmation shall be disregarded.
If a teletransmission states "full details to follow" (or words of similar effect), or states that the mail
confirmation is to be the operative credit or amendment, then the teletransmission will not be deemed to be
the operative credit or amendment. The issuing bank must then issue the operative credit or amendment
without delay in terms not inconsistent with the teletransmission.
B.A preliminary advice of the issuance of a credit or amendment ("pre-advice") shall only be sent if the
issuing bank is prepared to issue the operative credit or amendment. An issuing bank that sends a preadvice
is irrevocably committed to issue the operative credit or amendment, without delay, in terms not
inconsistent with the pre-advice.
UCP 600 - Article 12
Nomination
A. Unless a nominated bank is the confirming bank, an authorization to honour or negotiate does not impose
any obligation on that nominated bank to honour or negotiate, except when expressly agreed to by that
nominated bank and so communicated to the beneficiary.
B. By nominating a bank to accept a draft or incur a deferred payment undertaking, an issuing bank
authorizes that nominated bank to prepay or purchase a draft accepted or a deferred payment undertaking
incurred by that nominated bank.
C. Receipt or examination and forwarding of documents by a nominated bank that is not a confirming bank
does not make that nominated bank liable to honour or negotiate, nor does it constitute honour or
negotiation.
UCP 600 - Article 13
Bank-to-Bank Reimbursement Arrangements
A. If a credit states that reimbursement is to be obtained by a nominated bank ("claiming bank") claiming
on another party ("reimbursing bank"), the credit must state if the reimbursement is subject to the ICC
rules for bank-to-bank reimbursements in effect on the date of issuance of the credit.
B . If a credit does not state that reimbursement is subject to the ICC rules for bank-to-bank
reimbursements, the following apply:
i.An issuing bank must provide a reimbursing bank with a reimbursement authorization that conforms with
the availability stated in the credit. The reimbursement authorization should not be subject to an expiry
date.
ii.A claiming bank shall not be required to supply a reimbursing bank with a certificate of compliance with
the terms and conditions of the credit.
iii.An issuing bank will be responsible for any loss of interest, together with any expenses incurred, if
reimbursement is not provided on first demand by a reimbursing bank in accordance with the terms and
conditions of the credit.
iv.A reimbursing bank's charges are for the account of the issuing bank. However, if the charges are for the
account of the beneficiary, it is the responsibility of an issuing bank to so indicate in the credit and in the
reimbursement authorization. If a reimbursing bank's charges are for the account of the beneficiary, they
shall be deducted from the amount due to a claiming bank when reimbursement is made. If no
reimbursement is made, the reimbursing bank's charges remain the obligation of the issuing bank.
C.An issuing bank is not relieved of any of its obligations to provide reimbursement if reimbursement is not
made by a reimbursing bank on first demand.
UCP 600 - Article 14
Standard for Examination of Documents
A . A nominated bank acting on its nomination, a confirming bank, if any, and the issuing bank must examine
a presentation to determine, on the basis of the documents alone, whether or not the documents appear on
their face to constitute a complying presentation.
B. A nominated bank acting on its nomination, a confirming bank, if any, and the issuing bank shall each
have a maximum of five banking days following the day of presentation to determine if a presentation is
complying. This period is not curtailed or otherwise affected by the occurrence on or after the date of
presentation of any expiry date or last day for presentation.
C. A presentation including one or more original transport documents subject to articles 19, 20, 21, 22, 23,
24 or 25 must be made by or on behalf of the beneficiary not later than 21 calendar days after the date of
shipment as described in these rules, but in any event not later than the expiry date of the credit.
D. Data in a document, when read in context with the credit, the document itself and international standard
banking practice, need not be identical to, but must not conflict with, data in that document, any other
stipulated document or the credit.
E. In documents other than the commercial invoice, the description of the goods, services or performance, if
stated, may be in general terms not conflicting with their description in the credit.
f. If a credit requires presentation of a document other than a transport document, insurance document or
commercial invoice, without stipulating by whom the document is to be issued or its data content, banks will
accept the document as presented if its content appears to fulfil the function of the required document and
otherwise complies with sub-article 14 (d).
g. A document presented but not required by the credit will be disregarded and may be returned to the
presenter.
h. If a credit contains a condition without stipulating the document to indicate compliance with the
condition, banks will deem such condition as not stated and will disregard it.
i. A document may be dated prior to the issuance date of the credit, but must not be dated later than its
date of presentation.
j. When the addresses of the beneficiary and the applicant appear in any stipulated document, they need
not be the same as those stated in the credit or in any other stipulated document, but must be within the
same country as the respective addresses mentioned in the credit. Contact details (telefax, telephone, email
and the like) stated as part of the beneficiary's and the applicant's address will be disregarded. However,
when the address and contact details of the applicant appear as part of the consignee or notify party details
on a transport document subject to articles 19, 20, 21, 22, 23, 24 or 25, they must be as stated in the
credit.
k. The shipper or consignor of the goods indicated on any document need not be the beneficiary of the
credit.
l. A transport document may be issued by any party other than a carrier, owner, master or charterer
provided that the transport document meets the requirements of articles 19, 20, 21, 22, 23 or 24 of theserules.