《跟单信用证统一惯例》UCP500.docVIP

《跟单信用证统一惯例》UCP500 Uniform Customs and Practice for Documentary Credits 1993 Revision A. GENERAL PROVISIONS AND DEFINITIONS Article 1. Application of UCP The Uniform Customs and Practice for Documentary Credits, 1993 Revision, ICC Publication No. 500, shall apply to all documentary Credits including to the extent to which they may be applicable, Standby Letter s of Credit where they are incorporated into the text of the Credit. They are binding on all parties thereto, unless otherwise expressly stipulated in the Credit. Article 2. Meaning of Credit For the purposes of these Articles, the expressions Documentary Credit s and Standby Letter s of Credit hereinafter referred to as Credit s , rmean any arrangement, however named or described, whereby a bank the Issuing Bank acting at the request and on the instructions of a customer the Applicant or on its own behalf, i is to make a payment to or to the order of a third party the Beneficiary , or is to accept and pay bills of exchange Draft s drawn by the Beneficiary, or ii authorises another bank to effect such payment, or to accept and pay such bills of exchange Draft s , or iii authorises another bank to negotiate, against stipulated document s , provided that the terms and conditions of the Credit are complied with. For the purposes of these Articles, branches of a bank in different countreis are considered another bank. Article 3. Credits v. Contracts a. Credits, by their nature, are separate transactions from the sales or other contract s on which they may be based and banks are in no way concerned with or bound by such contract s , even if any reference whatsoever to such contract s is included in the Credit. Consequently, the undertaking of a bank to pay, accept and pay Draft s or negotiate and/or to fulfil any other obligation under the Credit, is not subject to claims or defences by the Applicant resulting from his relationships with the Issuing Bank or the Beneficiar