美国银行UCP600(Regional).pptVIP

Thank you for joining this Bank of America UCP-600 Workshop The information presented is for your general reference only. It is not intended to be a substitute for your own internal analysis, and we are not responsible for its application to specific transactions. Some provisions of UCP 600 are susceptible to varying interpretations, so you may wish to consult your own subject-matter experts and legal advisors as to how UCP 600 affects your business and your specific applications and transactions.  Welcome and Agenda UCP History and Rationale for Revision Major Modifications in UCP600 TBD Issues Review of some UCP600 Articles Q A 1. Brief History of the UCP 6th revision since 1933 UCP500 – used for 13 years 15 drafts with over 5000 comments received from national committees Culmination of 3 years of work 1. Rationale for the UCP 600 (Major Remodeling Issues): 7 UCP-500 articles that caused the most queries and disputes and lead to the revision Article 9 Liability of Issuing and Confirming Banks Article 13 Standard Examination of Documents Article 14 Discrepant Documents Notice Article 21 Unspecified Issuers and Contents of Documents Article 23 Marine/Ocean Bills of Lading Article 37 Commercial Invoices Article 48 Transferable Credits 1. Rationale for the UCP 600 (Major Remodeling Issues): Make LCs more useful, less confusing and easier to use Simplify the current UCP 500 Clarify the rules and regulations Improve the LC process for all users Goal – Strengthen the value and purpose of LCs: Mitigate risk Speed Payment Reduce the occurrence of discrepancies Providing for and clarifying financing alternatives for the exporter 2. Major Modifications in the UCP 600: Significant Changes: New Article on “Definition of Terms” New Article on “Interpretations” Elimination of redundant language and ambiguous terminology Authorizes nominated bank to discount deferred payments Reduces maximum document examination and notification period from 7 to 5 bank