The International Chamber of Commerce (ICC) has established

rules on documentary credits worldwide for more than 70 years.

UCP 600, the latest version of ICC's universally used rules on

documentary credits, was implemented on July 1, 2007.

Commentary on UCP 600 is written by members of the UCP 600

Drafting Group and reflects the Drafting Group's personal views.

Each article or sub-article is analyzed under four different topics

including the text of the article the key changes from UCP 500

the rationale for the new language and cross-references to other

articles in UCP 600.

Commentary on UCP 600 provides invaluable insight into the

thinking of those who drafted UCP 600. It will be the reference

book of choice for students and users of letter of credit rules.

The International Chamber of Commerce , the World Business

Organization, based in Paris, is the global leader in the development of

standards, rules and reference guides for international trade.