What is eUCP?

The ICC Banking Commission has developed a supplement to the UCP500 intended to set standards for electronic presentation of documents. This supplement has been dubbed the "eUCP."

The eUCP is not a change to the UCP but an extension of it. Unless a letter of credit allows electronic presentation of documents to being with, it makes little sense to incorporate these extra 12 articles. Letters of credit that continue to require presentation of all documents on paper are not affected in any way.

The eUCP has been introduced anticipitating the needs of the trade which might require the framework and facility of presenting documenting through electronic mode. Keep in mind that use of the eUCP is entirely up to each bank and their customers. Unless a letter of credit specifically says it is subject to the eUCP, it is not. There is no expectation that exporters and importers will suddenly start sending and receiving documents electronically on April 1st 2002.


The eUCP is a copyrighted publication of the International Chamber of Commerce and can be ordered from their Website at http://www.iccbooks.com/.

Click here to read the Frequently Asked Questions about the eUCP that will help you understand the impact (or potential impact) of these 12 new rules on your business.