《跟单信用证统一惯例》 _外贸经验_外贸知识网

UNIFORMCUSTOMSANDPRACTICEFORDOCUMENTARYCREDITS*ICCPublicationNo.500EffectiveJanuary1,1994

CONTENTSGENERALPROVISIONSANDDEFINITIONSChapter1ApplicationofUCPChapter2MeaningofCreditChapter3Creditsv.ContractsChapter4Documentsv.Goods/Services/PerformancesChapter5InstructionstoIssue/AmendCreditsFORMANDNOTIFICATIONOFCREDITSChapter6Revocablev.IrrevocableCreditsChapter7AdvisingBank’sLiabilityChapter8RevocationofaCreditChapter9LiabilityofIssuingandConfirmingBanksChapter10TypesofCreditChapter11TeletransmittedandPreAdvisedCreditChapter12IncompleteorUnclearInstructionsChapter13StandardforExaminationofDocumentsChapter14DiscrepantDocumentsandNoticeChapter15DisclaimeronEffectivenessofDocumentsChapter16DisclaimerontheTransmissionofMessagesChapter17ForceMajeureChapter18DisclaimerforActsofanInstructedPartyChapter19BanktoBankReimbursementArrangementsDOCUMENTSChapter20AmbiguityastotheIssuersofDocumentsChapter21UnspecifiedIssuersorContentsofDocumentsChapter22IssuanceDateofDocumentsVs.CreditDateChapter23Marine/OceanBillofLadingChapter24NonNegotiableSeaWaybillChapter25CharterPartyBillofLadingChapter26MultimodalTransportDocumentChapter27AirTransportDocumentChapter28Road,RailorinlandWaterwaytransportDocumentsChapter29CourierandPostReceiptsChapter30TransportDocumentsissuedbyFreightForwardersChapter31"OnDeck","Shipper’sLoadandCount",NameofConsignorChapter32CleanTransportDocumentsChapter33FreightPayable/PrepaidTransportDocumentsChapter34InsuranceDocumentsChapter35TypeofInsuranceCoverChapter36AllRisksInsuranceCoverChapter37CommercialInvoicesChapter38OtherDocumentsMISCELLANEOUSPROVISIONChapter39AllowancesinCreditAmount,QuantityandUnitPriceChapter40PartialShipments/DrawingsChapter41InstallmentShipments/DrawingsChapter42ExpiryDateandPlaceforPresentationofDocumentsChapter43LimitationontheExpiryDateChapter44ExtensionofExpiryDateChapter45HoursofPresentationChapter46GeneralExpressionsastoDatesforShipmentChapter47DateTerminologyforPeriodsofShipmentTRANSFERABLECREDITChapter48TransferableCreditASSIGNMENTOFPROCEEDSChapter49AssignmentofProceedsICCARBITRATION

GENERALPROVISIONSANDDEFINITIONSARTICLE1ApplicationofUCPTheUniformCustomsandPracticeforDocumentaryCredits,1993Revision,ICCPublicationNo.500,shallapplytoallDocumentaryCredits(includingtotheextenttowhichtheymaybeapplicable,StandbyLetter(s)ofCredit)wheretheyareincorporatedintothetextoftheCredit.Theyarebindingonallpartiesthereto,unlessotherwiseexpresslystipulatedintheCredit.ARTICLE2MeaningofCreditForthepurposesoftheseArticles,theexpressions"DocumentaryCredit(s)"and"StandbyLetter(s)ofCredit"(hereinafterreferredtoas"Credit(s)"),meananyarrangement,howevernamedordescribed,wherebyabank(the"IssuingBank")actingattherequestandontheinstructionsofacustomer(the"Applicant")oronitsownbehalf,i.istomakeapaymenttoortotheorderofathirdparty(the"Beneficiary"),oristoacceptandpaybillsofexchange(Draft(s))drawnbytheBeneficiary,orii.authorizesanotherbanktoeffectsuchpayment,ortoacceptandpaysuchbillsofexchange(Draft(s)),oriii.authorizesanotherbanktonegotiate,againststipulateddocument(s),providedthatthetermsandconditionsoftheCreditarecompliedwith.ForthepurposesoftheseArticles,branchesofabankindifferentcountriesareconsideredanotherbank.ARTICLE3Creditsv.ContractsA.Credits,bytheirnature,areseparatetransactionsfromthesalesorothercontract(s)onwhichtheymaybebasedandbanksareinnowayconcernedwithorboundbysuchcontract(s),evenifanyreferencewhatsoevertosuchcontract(s)isincludedintheCredit.Consequently,theundertakingofabanktopay,acceptandpayDraft(s)ornegotiateand/ortofulfillanyotherobligationundertheCredit,isnotsubjecttoclaimsordefensesbytheApplicantresultingfromhisrelationshipswiththeIssuingBankortheBeneficiary.B.ABeneficiarycaninnocaseavailhimselfofthecontractualrelationshipsexistingbetweenthebanksorbetweentheApplicantandtheIssuingBank.

ARTICLE4Documentsv.Goods/Services/PerformancesInCreditoperationsallpartiesconcerneddealwithdocuments,andnotwithgoods,servicesand/orotherperformancestowhichthedocumentsmayrelate.

ARTICLE5InstructionstoIssue/AmendCreditsA.InstructionsfortheissuanceofaCredit,theCredititself,instructionsforanamendmentthereto,andtheamendmentitself,mustbecompleteandprecise.Inordertoguardagainstconfusionandmisunderstanding,banksshoulddiscourageanyattempt:i.toincludeexcessivedetailintheCreditorinanyamendmentthereto;ii.togiveinstructionstoissue,adviseorconfirmaCreditbyreferencetoaCreditpreviouslyissued(similarCredit)wheresuchpreviousCredithasbeensubjecttoacceptedamendment(s),and/orunacceptedamendment(s).B.AllinstructionsfortheissuanceofaCreditandtheCredititselfand,whereapplicable,allinstructionsforanamendmenttheretoandtheamendmentitself,muststatepreciselythedocument(s)againstwhichpayment,acceptanceornegotiationistobemade.FORMANDNOTIFICATIONOFCREDITSARTICLE6Revocablev.IrrevocableCreditsA.ACreditmaybeeitheri.revocable,orii.irrevocable.B.TheCredit,therefore,shouldclearlyindicatewhetheritisrevocableorirrevocable.C.IntheabsenceofsuchindicationtheCreditshallbedeemedtobeirrevocable.ARTICLE7AdvisingBank’sLiabilityA.ACreditmaybeadvisedtoaBeneficiarythroughanotherbank(the"AdvisingBank")withoutengagementonthepartoftheAdvisingBank,butthatbank,ifitelectstoadvisetheCredit,shalltakereasonablecaretochecktheapparentauthenticityoftheCreditwhichitadvises.IfthebankelectsnottoadvisetheCredit,itmustsoinformtheIssuingBankwithoutdelay.B.IftheAdvisingBankcannotestablishsuchapparentauthenticityitmustinform,withoutdelay,thebankfromwhichtheinstructionsappeartohavebeenreceivedthatithasbeenunabletoestablishtheauthenticityoftheCreditandifitelectsnonethelesstoadvisetheCredititmustinformtheBeneficiarythatithasnotbeenabletoestablishtheauthenticityoftheCredit.ARTICLE8RevocationofaCreditA.ArevocableCreditmaybeamendedorcanceledbytheIssuingBankatanymomentandwithoutpriornoticetotheBeneficiary.B.However,theIssuingBankmust:i.reimburseanotherbankwithwhicharevocableCredithasbeenmadeavailableforsightpayment,acceptanceornegotiationforanypayment,acceptanceornegotiationmadebysuchbankpriortoreceiptbyitofnoticeofamendmentorcancellation,againstdocumentswhichappearontheirfacetobeincompliancewiththetermsandconditionsoftheCredit;ii.reimburseanotherbankwithwhicharevocableCredithasbeenmadeavailablefordeferredpayment,ifsuchabankhas,priortoreceiptbyitofnoticeofamendmentorcancellation,takenupdocumentswhichappearontheirfacetobeincompliancewiththetermsandconditionsoftheCredit.

ARTICLE9LiabilityofIssuingandConfirmingBanksA.AnirrevocableCreditconstitutesadefiniteundertakingoftheIssuingBank,providedthatthestipulateddocumentsarepresentedtotheNominatedBankortotheIssuingBankandthatthetermsandconditionsoftheCreditarecompliedwith:i.iftheCreditprovidesforsightpaymenttopayatsight;ii.iftheCreditprovidesfordeferredpaymenttopayonthematuritydate(s)determinableinaccordancewiththestipulationsoftheCredit;iii.iftheCreditprovidesforacceptance;a.bytheIssuingBanktoacceptDraft(s)drawnbytheBeneficiaryontheIssuingBankandpaythematmaturity,orb.byanotherdraweebanktoacceptandpayatmaturityDraft(s)drawnbytheBeneficiaryontheIssuingBankintheeventthedraweebankstipulatedintheCreditdoesnotacceptDraft(s)drawnonit,ortopayDrafts(s)acceptedbutnotpaidbysuchdraweebankatmaturity;iv.iftheCreditprovidesfornegotiationtopaywithoutrecoursetodrawersand/orbonafideholders,Draft(s)drawnbytheBeneficiaryand/ordocument(s)presentedundertheCredit.ACreditshouldnotbeissuedavailablebyDraft(s)ontheApplicant.IftheCreditneverthelesscallsforDraft(s)ontheApplicant,bankswillconsidersuchDraft(s)asanadditionaldocument(s).B.AconfirmationofanirrevocableCreditbyanotherbank(the"ConfirmingBank")upontheauthorizationorrequestoftheIssuingBank,constitutesadefiniteundertakingoftheConfirmingBank,inadditiontothatoftheissuingBank,providedthatthestipulateddocumentsarepresentedtotheConfirmingBankortoanyotherNominatedBankandthatthetermsandconditionsoftheCreditarecompliedwith:i.IftheCreditprovidesforsightpaymenttopayatsight;ii.iftheCreditprovidesfordeferredpaymenttopayonthematuritydate(s)determinableinaccordancewiththestipulationsoftheCredit;iii.iftheCreditprovidesforacceptance:a.bytheConfirmingBanktoacceptDraft(s)drawnbytheBeneficiaryontheConfirmingBankandpaythematmaturity,orb.byanotherdraweebanktoacceptandpayatmaturityDraft(s)drawnbytheBeneficiaryontheConfirmingBank,intheeventthedraweebankstipulatedintheCreditdoesnotacceptDraft(s)drawnonit,ortopayDraft(s)acceptedbutnotpaidbysuchdraweebankatmaturity;iv.iftheCreditprovidesfornegotiationtonegotiatewithoutrecoursetodrawersand/orbonafideholders,Draft(s)drawnbytheBeneficiaryand/ordocument(s)presentedundertheCredit.ACreditshouldnotbeissuedavailablebyDraft(s)ontheApplicant.IftheCreditneverthelesscallsforDraft(s)ontheApplicant,bankswillconsidersuchDraft(s)asanadditionaldocument(s).C.i.IfanotherbankisauthorizedorrequestedbytheIssuingBanktoadditsconfirmationtoaCreditbutisnotpreparedtodoso,itmustsoinformtheIssuingBankwithoutdelay.ii.UnlesstheIssuingBankspecifiesotherwiseinitsauthorizationorrequesttoaddconfirmation,theAdvisingBankmayadvisetheCredittotheBeneficiarywithoutaddingitsconfirmation.D.i.ExceptasotherwiseprovidedbyArticle48,anirrevocableCreditcanneitherbeamendednorcanceledwithouttheagreementoftheIssuingBank,theConfirmingBank,ifany,andtheBeneficiary.ii.TheIssuingBankshallbeirrevocablyboundbyanamendment(s)issuedbyitfromthetimeoftheissuanceofsuchamendment(s).AConfirmingBankmayextenditsconfirmationtoanamendmentandshallbeirrevocablyboundasofthetimeofitsadviceoftheamendment.AConfirmingBankmay,however,choosetoadviseanamendmenttotheBeneficiarywithoutextendingitsconfirmationandifso,mustinformtheIssuingBankandtheBeneficiarywithoutdelay.iii.ThetermsoftheoriginalCredit(oraCreditincorporatingpreviouslyacceptedamendment(s))willremaininforcefortheBeneficiaryuntiltheBeneficiarycommunicateshisacceptanceoftheamendmenttothebankthatadvisedsuchamendment.TheBeneficiaryshouldgivenotificationofacceptanceorrejectionofamendment(s).IftheBeneficiaryfailstogivesuchnotification,thetenderofdocumentstotheNominatedBankorIssuingBank,thatconformtotheCreditandtonotyetacceptedamendment(s),willbedeemedtobenotificationofacceptancebytheBeneficiaryofsuchamendment(s)andasofthatmomenttheCreditwillbeamended.iv.Partialacceptanceofamendmentscontainedinoneandthesameadviceofamendmentisnotallowedandconsequentlywillnotbegivenanyeffect.

ARTICLE10TypesofCreditA.AllCreditsmustclearlyindicatewhethertheyareavailablebysightpayment,bydeferredpayment,byacceptanceorbynegotiation.B.i.UnlesstheCreditstipulatesthatitisavailableonlywiththeIssuingBank,allCreditsmustnominatethebank(the"NominatedBank")whichisauthorizedtopay,toincuradeferredpaymentundertaking,toacceptDraft(s)ortonegotiate.InafreelynegotiableCredit,anybankisaNominatedBank.PresentationofdocumentsmustbemadetotheIssuingBankortheConfirmingBank,ifany,oranyotherNominatedBank.ii.NegotiationmeansthegivingofvalueforDraft(s)and/ordocument(s)bythebankauthorizedtonegotiate.Mereexaminationofthedocumentswithoutgivingofvaluedoesnotconstituteanegotiation.C.UnlesstheNominatedBankistheConfirmingBank,nominationbytheIssuingBankdoesnotconstituteanyundertakingbytheNominatedBanktopay,toincuradeferredpaymentundertaking,toacceptDraft(s),ortonegotiate.ExceptwhereexpresslyagreedtobytheNominatedBankandsocommunicatedtotheBeneficiary,theNominatedBank’sreceiptofand/orexaminationand/orforwardingofthedocumentsdoesnotmakethatbankliabletopay,toincuradeferredpaymentundertaking,toacceptDraft(s),ortonegotiate.D.Bynominatinganotherbank,orbyallowingfornegotiationbyanybank,orbyauthorizingorrequestinganotherbanktoadditsconfirmation,theIssuingBankauthorizessuchbanktopay,acceptDraft(s)ornegotiateasthecasemaybe,againstdocumentswhichappearontheirfacetobeincompliancewiththetermsandconditionsoftheCreditandundertakestoreimbursesuchbankinaccordancewiththeprovisionsoftheseArticles.

ARTICLE11TeletransmittedandPreAdvisedCreditA.i.WhenanIssuingBankinstructsanAdvisingBankbyanauthenticatedteletransmissiontoadviseaCreditoranamendmenttoaCredit,theteletransmissionwillbedeemedtobetheoperativeCreditinstrumentortheoperativeamendment,andnomailconfirmationshouldbesent.Shouldamailconfirmationneverthelessbesent,itwillhavenoeffectandtheAdvisingBankwillhavenoobligationtochecksuchmailconfirmationagainsttheoperativeCreditinstrumentortheoperativeamendmentreceivedbyteletransmission.ii.Iftheteletransmissionstates"fulldetailstofollow"(orwordsofsimilareffect)orstatesthatthemailconfirmationistobetheoperativeCreditinstrumentortheoperativeamendment,thentheteletransmissionwillnotbedeemedtobetheoperativeCreditinstrumentortheoperativeamendment.TheIssuingBankmustforwardtheoperativeCreditinstrumentortheoperativeamendmenttosuchAdvisingBankwithoutdelay.B.IfabankusestheservicesofanAdvisingBanktohavetheCreditadvisedtotheBeneficiary,itmustalsousetheservicesofthesamebankforadvisinganamendment(s).C.ApreliminaryadviceoftheissuanceoramendmentofanirrevocableCredit(preadvice),shallonlybegivenbyanIssuingBankifsuchbankispreparedtoissuetheoperativeCreditinstrumentortheoperativeamendmentthereto.UnlessotherwisestatedinsuchpreliminaryadvicebytheIssuingBank,anIssuingBankhavinggivensuchpreadviceshallbeirrevocablycommittedtoissueoramendtheCredit,intermsnotinconsistentwiththepreadvice,withoutdelay.ARTICLE12IncompleteorUnclearInstructionsIfincompleteorunclearinstructionsarereceivedtoadvise,confirmoramendaCredit,thebankrequestedtoactonsuchinstructionsmaygivepreliminarynotificationtotheBeneficiaryforinformationonlyandwithoutresponsibility.ThispreliminarynotificationshouldstateclearlythatthenotificationisprovidedforinformationonlyandwithouttheresponsibilityoftheAdvisingBank.Inanyevent,theAdvisingBankmustinformtheIssuingBankoftheactiontakenandrequestittoprovidethenecessaryinformation.TheIssuingBankmustprovidethenecessaryinformationwithoutdelay.TheCreditwillbeadvised,confirmedoramended,onlywhencompleteandclearinstructionshavebeenreceivedandiftheAdvisingBankisthenpreparedtoactontheinstructions.ARTICLE13StandardforExaminationofDocumentsA.BanksmustexaminealldocumentsstipulatedintheCreditwithreasonablecare,toascertainwhetherornottheyappear,ontheirface,tobeincompliancewiththetermsandconditionsoftheCredit.ComplianceofthestipulateddocumentsontheirfacewiththetermsandconditionsoftheCredit,shallbedeterminedbyinternationalstandardbankingpracticeasreflectedintheseArticles.DocumentswhichappearontheirfacetobeinconsistentwithoneanotherwillbeconsideredasnotappearingontheirfacetobeincompliancewiththetermsandconditionsoftheCredit.DocumentsnotstipulatedintheCreditwillnotbeexaminedbybanks.Iftheyreceivesuchdocuments,theyshallreturnthemtothepresenterorpassthemonwithoutresponsibility.B.TheIssuingBank,theConfirmingBank,ifany,oraNominatedBankactingontheirbehalf,shalleachhaveareasonabletime,nottoexceedsevenbankingdaysfollowingthedayofreceiptofthedocuments,toexaminethedocumentsanddeterminewhethertotakeuporrefusethedocumentsandtoinformthepartyfromwhichitreceivedthedocumentsaccordingly.C.IfaCreditcontainsconditionswithoutstatingthedocument(s)tobepresentedincompliancetherewith,bankswilldeemsuchconditionsasnotstatedandwilldisregardthem.ARTICLE14DiscrepantDocumentsandNoticeA.WhentheIssuingBankauthorizesanotherbanktopay,incuradeferredpaymentundertaking,acceptDraft(s),ornegotiateagainstdocumentswhichappearontheirfacetobeincompliancewiththetermsandconditionsoftheCredit,theIssuingBankandtheConfirmingBank,ifany,arebound:i.toreimbursetheNominatedBankwhichhaspaid,incurredadeferredpaymentundertaking,acceptedDraft(s),ornegotiated,ii.totakeupthedocuments.B.UponreceiptofthedocumentstheIssuingBankand/orConfirmingBank,ifany,oraNominatedBankactingontheirbehalf,mustdetermineonthebasisofthedocumentsalonewhetherornottheyappearontheirfacetobeincompliancewiththetermsandconditionsoftheCredit.IfthedocumentsappearontheirfacenottobeincompliancewiththetermsandconditionsoftheCredit,suchbanksmayrefusetotakeupthedocuments.C.IftheIssuingBankdeterminesthatthedocumentsappearontheirfacenottobeincompliancewiththetermsandconditionsoftheCredit,itmayinitssolejudgmentapproachtheApplicantforawaiverofthediscrepancy(ies).Thisdoesnot,however,extendtheperiodmentionedinsubArticle13(b).D.i.IftheIssuingBankand/orConfirmingBank,ifany,oraNominatedBankactingontheirbehalf,decidestorefusethedocuments,itmustgivenoticetothateffectbytelecommunicationor,ifthatisnotpossible,byotherexpeditiousmeans,withoutdelaybutnolaterthanthecloseoftheseventhbankingdayfollowingthedayofreceiptofthedocuments.Suchnoticeshallbegiventothebankfromwhichitreceivedthedocuments,ortotheBeneficiary,ifitreceivedthedocumentsdirectlyfromhim.ii.Suchnoticemuststatealldiscrepanciesinrespectofwhichthebankrefusesthedocumentsandmustalsostatewhetheritisholdingthedocumentsatthedisposalof,orisreturningthemto,thepresenter.iii.TheIssuingBankand/orConfirmingBank,ifany,shallthenbeentitledtoclaimfromtheremittingbankrefund,withinterest,ofanyreimbursementwhichhasbeenmadetothatbank.E.IftheIssuingBankand/orConfirmingBank,ifany,failstoactinaccordancewiththeprovisionsofthisArticleand/orfailstoholdthedocumentsatthedisposalof,orreturnthemtothepresenter,theIssuingBankand/orConfirmingBank,ifany,shallbeprecludedfromclaimingthatthedocumentsarenotincompliancewiththetermsandconditionsoftheCredit.F.IftheremittingbankdrawstheattentionoftheIssuingBankand/orConfirmingBank,ifany,toanydiscrepancy(ies)inthedocument(s)oradvisessuchbanksthatithaspaid,incurredadeferredpaymentundertaking,acceptedDraft(s)ornegotiatedunderreserveoragainstanindemnityinrespectofsuchdiscrepancy(ies),theIssuingBankand/orConfirmingBank,ifany,shallnotbetherebyrelievedfromanyoftheirobligationsunderanyprovisionofthisArticle.Suchreserveorindemnityconcernsonlytherelationsbetweentheremittingbankandthepartytowardswhomthereservewasmade,orfromwhom,oronwhosebehalf,theindemnitywasobtained.ARTICLE15DisclaimeronEffectivenessofDocumentsBanksassumenoliabilityorresponsibilityfortheform,sufficiency,accuracy,genuineness,falsificationorlegaleffectofanydocument(s),orforthegeneraland/orparticularconditionsstipulatedinthedocument(s)orsuperimposedthereon;nordotheyassumeanyliabilityorresponsibilityforthedescription,quantity,weight,quality,condition,packing,delivery,valueorexistenceofthegoodsrepresentedbyanydocument(s),orforthegoodfaithoractsand/oromissions,solvency,performanceorstandingoftheconsignors,thecarriers,theforwarders,theconsigneesortheinsurersofthegoods,oranyotherpersonwhomsoever.ARTICLE16DisclaimerontheTransmissionofMessagesBanksassumenoliabilityorresponsibilityfortheconsequencesarisingoutofdelayand/orlossintransitofanymessage(s),letter(s)ordocument(s),orfordelay,mutilationorothererror(s)arisinginthetransmissionofanytelecommunication.Banksassumenoliabilityorresponsibilityforerrorsintranslationand/orinterpretationoftechnicalterms,andreservetherighttotransmitCredittermswithouttranslatingthem.ARTICLE17ForceMajeureBanksassumenoliabilityorresponsibilityfortheconsequencesarisingoutoftheinterruptionoftheirbusinessbyActsofGod,riots,civilcommotions,insurrections,warsoranyothercausesbeyondtheircontrol,orbyanystrikesorlockouts.Unlessspecificallyauthorized,bankswillnot,uponresumptionoftheirbusiness,pay,incuradeferredpaymentundertaking,acceptDraft(s)ornegotiateunderCreditswhichexpiredduringsuchinterruptionoftheirbusiness.ARTICLE18DisclaimerforActsofanInstructedPartyA.BanksutilizingtheservicesofanotherbankorotherbanksforthepurposeofgivingeffecttotheinstructionsoftheApplicantdosofortheaccountandattheriskofsuchApplicant.B.Banksassumenoliabilityorresponsibilityshouldtheinstructionstheytransmitnotbecarriedout,eveniftheyhavethemselvestakentheinitiativeinthechoiceofsuchotherbank(s).C.i.Apartyinstructinganotherpartytoperformservicesisliableforanycharges,includingcommissions,fees,costsorexpensesincurredbytheinstructedpartyinconnectionwithitsinstructions.ii.Whereacreditstipulatesthatsuchchargesarefortheaccountofapartyotherthantheinstructingparty,andchargescannotbecollected,theinstructingpartyremainsultimatelyliableforthepaymentthereof.D.TheApplicantshallbeboundbyandliabletoindemnifythebanksagainstallobligationsandresponsibilitiesimposedbyforeignlawsandusages.ARTICLE19BanktoBankReimbursementArrangementsA.IfanIssuingBankintendsthatthereimbursementtowhichapaying,acceptingornegotiatingbankisentitled,shallbeobtainedbysuchbank(the"ClaimingBank"),claimingonanotherparty(the"ReimbursingBank"),itshallprovidesuchReimbursingBankingoodtimewiththeproperinstructionsorauthorizationtohonorsuchreimbursementclaims.B.IssuingBanksshallnotrequireaClaimingBanktosupplyacertificateofcompliancewiththetermsandconditionsoftheCredittotheReimbursingBank.C.AnIssuingBankshallnotberelievedfromanyofitsobligationstoprovidereimbursementifandwhenreimbursementisnotreceivedbytheClaimingBankfromtheReimbursingBank.D.TheIssuingBankshallberesponsibletotheClaimingBankforanylossofinterestifreimbursementisnotprovidedbytheReimbursingBankonfirstdemand,orasotherwisespecifiedintheCredit,ormutuallyagreed,asthecasemaybe.E.TheReimbursingBank’schargesshouldbefortheaccountoftheIssuingBank.However,incaseswherethechargesarefortheaccountofanotherparty,itistheresponsibilityoftheIssuingBanktosoindicateintheoriginalCreditandinthereimbursementauthorization.IncaseswheretheReimbursingBank’schargesarefortheaccountofanotherpartytheyshallbecollectedfromtheClaimingBankwhentheCreditisdrawnunder.IncaseswheretheCreditisnotdrawnunder,theReimbursingBank’schargesremaintheobligationoftheIssuingBank.

DOCUMENTSARTICLE20AmbiguityastotheIssuersofDocumentsA.Termssuchas"firstclass","wellknown","qualified","independent","official","competent","local",andthelike,shallnotbeusedtodescribetheissuersofanydocument(s)tobepresentedunderaCredit.IfsuchtermsareincorporatedintheCredit,bankswillaccepttherelativedocument(s)aspresented,providedthatitappearsonitsfacetobeincompliancewiththeothertermsandconditionsoftheCreditandnottohavebeenissuedbytheBeneficiary.B.UnlessotherwisestipulatedintheCredit,bankswillalsoacceptasanoriginaldocument(s),adocument(s)producedorappearingtohavebeenproduced:i.byreprographic,automatedorcomputerizedsystems;ii.ascarboncopies;providedthatitismarkedasoriginaland,wherenecessary,appearstobesigned.Adocumentmaybesignedbyhandwriting,byfacsimilesignature,byperforatedsignature,bystamp,bysymbol,orbyanyothermechanicalorelectronicmethodofauthentication.C.i.UnlessotherwisestipulatedintheCredit,bankswillacceptasacopy(ies),adocument(s)eitherlabeledcopyornotmarkedasanoriginalacopy(ies)neednotbesigned.ii.Creditsthatrequiremultipledocument(s)suchas"duplicate","twofold","twocopies"andthelike,willbesatisfiedbythepresentationofoneoriginalandtheremainingnumberincopiesexceptwherethedocumentitselfindicatesotherwise.D.UnlessotherwisestipulatedintheCredit,aconditionunderaCreditcallingforadocumenttobeauthenticated,validated,legalized,visaed,certifiedorindicatingasimilarrequirement,willbesatisfiedbyanysignature,mark,stamporlabelonsuchdocumentthatonitsfaceappearstosatisfytheabovecondition.ARTICLE21UnspecifiedIssuersorContentsofDocumentsWhendocumentsotherthantransportdocuments,insurancedocumentsandcommercialinvoicesarecalledfor,theCreditshouldstipulatebywhomsuchdocumentsaretobeissuedandtheirwordingordatacontent.IftheCreditdoesnotsostipulate,bankswillacceptsuchdocumentsaspresented,providedthattheirdatacontentisnotinconsistentwithanyotherstipulateddocumentpresented.ARTICLE22IssuanceDateofDocumentsVs.CreditDateUnlessotherwisestipulatedintheCredit,bankswillacceptadocumentbearingadateofissuancepriortothatoftheCredit,subjecttosuchdocumentbeingpresentedwithinthetimelimitssetoutintheCreditandintheseArticles.ARTICLE23Marine/OceanBillofLadingA.IfaCreditcallsforabillofladingcoveringaporttoportshipment,bankswill,unlessotherwisestipulatedintheCredit,acceptadocument,howevernamed,which:i.appearsonitsfacetoindicatethenameofthecarrierandtohavebeensignedorotherwiseauthenticatedby:thecarrieroranamedagentfororonbehalfofthecarrier,orthemasteroranamedagentfororonbehalfofthemaster.Anysignatureorauthenticationofthecarrierorthemastermustbeidentifiedascarrierormaster,asthecasemaybe.Anagentsigningorauthenticatingforthecarrierormastermustalsoindicatethenameandthecapacityoftheparty,i.e.carrierormaster,onwhosebehalfthatagentisacting,andii.indicatesthatthegoodshavebeenloadedonboard,orshippedonanamedvessel.Loadingonboardorshipmentonanamedvesselmaybeindicatedbypreprintedwordingonthebillofladingthatthegoodshavebeenloadedonboardanamedvesselorshippedonanamedvessel,inwhichcasethedateofissuanceofthebillofladingwillbedeemedtobethedateofloadingonboardandthedateofshipment.Inallothercasesloadingonboardanamedvesselmustbeevidencedbyanotationonthebillofladingwhichgivesthedateonwhichthegoodshavebeenloadedonboard,inwhichcasethedateoftheboardnotationwillbedeemedtobethedateofshipment.Ifthebillofladingcontainstheindication"intendedvessel",orsimilarqualificationinrelationtothevessel,loadingonboardanamedvesselmustbeevidencedbyanonboardnotationonthebillofladingwhich,inadditiontothedateonwhichthegoodshavebeenloadedonboard,alsoincludesthenameofthevesselonwhichthegoodshavebeenloaded,eveniftheyhavebeenloadedonthevesselnamedasthe"intendedvessel".Ifthebillofladingindicatesaplaceofreceiptortakinginchargedifferentfromtheportofloading,theonboardnotationmustalsoincludetheportofloadingstipulatedintheCreditandthenameofthevesselonwhichthegoodshavebeenloaded,eveniftheyhavebeenloadedonthevesselnamedinthebilloflading.Thisprovisionalsoapplieswheneverloadingonboardthevesselisindicatedbypreprintedwordingonthebilloflading,andiii.indicatestheportofloadingandtheportofdischargestipulatedintheCredit,notwithstandingthatit:a.indicatesaplaceoftakinginchargedifferentfromtheportofloading,and/oraplaceoffinaldestinationdifferentfromtheportofdischarge,and/orb.containstheindication"intended"orsimilarqualificationinrelationtotheportofloadingand/orportofdischarge,aslongasthedocumentalsostatestheportsofloadingand/ordischargestipulatedintheCredit,andiv.consistsofasoleoriginalbillofladingor,ifissuedinmorethanoneoriginal,thefullsetassoissued,andv.appearstocontainallofthetermsandconditionsofcarriage,orsomeofsuchtermsandconditionsbyreferencetoasourceordocumentotherthanthebilloflading(shortform/blankbackbilloflading);bankswillnotexaminethecontentsofsuchtermsandconditions,andvi.containsnoindicationthatitissubjecttoacharterpartyand/ornoindicationthatthecarryingvesselispropelledbysailonly,andvii.inallotherrespectsmeetsthestipulationsoftheCredit.B.ForthepurposeofthisArticle,transshipmentmeansunloadingandreloadingfromonevesseltoanothervesselduringthecourseofoceancarriagefromtheportofloadingtotheportofdischargestipulatedintheCredit.C.UnlesstransshipmentisprohibitedbythetermsoftheCredit,bankswillacceptabillofladingwhichindicatesthatthegoodswillbetransshipped,providedthattheentireoceancarriageiscoveredbyoneandthesamebilloflading.D.EveniftheCreditprohibitstransshipment,bankswillacceptabillofladingwhich:i.indicatesthatthetransshipmentwilltakeplaceaslongastherelevantcargoisshippedinContainer(s),Trailer(s)and/or"LASH"barge(s)asevidencedbythebilloflading,providedthattheentireoceancarriageiscoveredbyoneandthesamebilloflading,and/orii.incorporatesclausesstatingthatthecarrierreservestherighttotransship.ARTICLE24NonNegotiableSeaWaybillA.IfaCreditcallsforanonnegotiableseawaybillcoveringaporttoportshipment,bankswill,unlessotherwisestipulatedintheCredit,acceptadocument,howevernamed,which:i.appearsonitsfacetoindicatethenameofthecarrierandtohavebeensignedorotherwiseauthenticatedby:thecarrieroranamedagentfororonbehalfofthecarrier,orthemasteroranamedagentfororonbehalfofthemaster,Anysignatureorauthenticationofthecarrierormastermustbeidentifiedascarrierormaster,asthecasemaybe.Anagentsigningorauthenticatingforthecarrierormastermustalsoindicatethenameandthecapacityoftheparty,i.e.carrierormaster,onwhosebehalfthatagentisacting,andii.indicatesthatthegoodshavebeenloadedonboard,orshippedonanamedvessel.Loadingonboardorshipmentonanamedvesselmaybeindicatedbypreprintedwordingonthenonnegotiableseawaybillthatthegoodshavebeenloadedonboardanamedvesselorshippedonanamedvessel,inwhichcasethedateofissuanceofthenonnegotiableseawaybillwillbedeemedtobethedateofloadingonboardandthedateofshipment.Inallothercasesloadingonboardanamedvesselmustbeevidencedbyanotationonthenonnegotiableseawaybillwhichgivesthedateonwhichthegoodshavebeenloadedonboard,inwhichcasethedateoftheonboardnotationwillbedeemedtobethedateofshipment.Ifthenonnegotiableseawaybillcontainstheindication"intendedvessel",orsimilarqualificationinrelationtothevessel,loadingonboardanamedvesselmustbeevidencedbyanonboardnotationonthenonnegotiableseawaybillwhich,inadditiontothedateonwhichthegoodshavebeenloadedonboard,includesthenameofthevesselonwhichthegoodshavebeenloaded,eveniftheyhavebeenloadedonthevesselnamedasthe"intendedvessel".Ifthenonnegotiableseawaybillindicatesaplaceofreceiptortakinginchargedifferentfromtheportofloading,theonboardnotationmustalsoincludetheportofloadingstipulatedintheCreditandthenameofthevesselonwhichthegoodshavebeenloaded,eveniftheyhavebeenloadedonavesselnamedinthenonnegotiableseawaybill.Thisprovisionalsoapplieswheneverloadingonboardthevesselisindicatedbypreprintedwordingonthenonnegotiableseawaybill,andiii.indicatestheportofloadingandtheportofdischargestipulatedintheCredit,notwithstandingthatit:a.indicatesaplaceoftakinginchargedifferentfromtheportofloading,and/oraplaceoffinaldestinationdifferentfromtheportofdischarge,and/orb.containstheindication"intended"orsimilarqualificationinrelationtotheportofloadingand/orportofdischarge,aslongasthedocumentalsostatestheportsofloadingand/ordischargestipulatedintheCredit,andiv.consistsofasoleoriginalnonnegotiableseawaybill,orifissuedinmorethanoneoriginal,thefullsetassoissued,andv.appearstocontainallofthetermsandconditionsofcarriage,orsomeofsuchtermsandconditionsbyreferencetoasourceordocumentotherthanthenonnegotiableseawaybill(shortform/blankbacknonnegotiableseawaybill);bankswillnotexaminethecontentsofsuchtermsandconditions,andvi.containsnoindicationthatitissubjecttoacharterpartyand/ornoindicationthatthecarryingvesselispropelledbysailonly,andvii.inallotherrespectsmeetsthestipulationsoftheCredit.B.ForthepurposeofthisArticle,transshipmentmeansunloadingandreloadingfromonevesseltoanothervesselduringthecourseofoceancarriagefromtheportofloadingtotheportofdischargestipulatedintheCredit.C.UnlesstransshipmentisprohibitedbythetermsoftheCredit,bankswillacceptanonnegotiableseawaybillwhichindicatesthatthegoodswillbetransshipped,providedthattheentireoceancarriageiscoveredbyoneandthesamenonnegotiableseawaybill.D.EveniftheCreditprohibitstransshipment,bankswillacceptanonnegotiableseawaybillwhich:i.indicatesthattransshipmentwilltakeplaceaslongastherelevantcargoisshippedinContainer(s),Trailer(s)and/or"LASH"barge(s)asevidencedbythenonnegotiableseawaybill,providedthattheentireoceancarriageiscoveredbyoneandthesamenonnegotiableseawaybill,and/orii.incorporatesclausesstatingthatthecarrierreservestherighttotransship.ARTICLE25CharterPartyBillofLadingA.IfaCreditcallsfororpermitsacharterpartybilloflading,bankswill,unlessotherwisestipulatedintheCredit,acceptadocument,howevernamed,which:i.containsanyindicationthatitissubjecttoacharterparty,andii.appearsonitsfacetohavebeensignedorotherwiseauthenticatedby:themasteroranamedagentfororonbehalfofthemaster,ortheowneroranamedagentfororonbehalfoftheowner.Anysignatureorauthenticationofthemasterorownermustbeidentifiedasmasterorownerasthecasemaybe.Anagentsigningorauthenticatingforthemasterorownermustalsoindicatethenameandthecapacityoftheparty,i.e.masterorowner,onwhosebehalfthatagentisacting,andiii.doesordoesnotindicatethenameofthecarrier,andiv.indicatesthatthegoodshavebeenloadedonboardorshippedonanamedvessel.Loadingonboardorshipmentonanamedvesselmaybeindicatedbypreprintedwordingonthebillofladingthatthegoodshavebeenloadedonboardanamedvesselorshippedonanamedvessel,inwhichcasethedateofissuanceofthebillofladingwillbedeemedtobethedateofloadingonboardandthedateofshipment.Inallothercasesloadingonboardanamedvesselmustbeevidencedbyanotationonthebillofladingwhichgivesthedateonwhichthegoodshavebeenloadedonboard,inwhichcasethedateoftheonboardnotationwillbedeemedtobethedateofshipment,andv.indicatestheportofloadingandtheportofdischargestipulatedintheCredit,andvi.consistsofasoleoriginalbillofladingor,ifissuedinmorethanoneoriginal,thefullsetassoissued,andvii.containsnoindicationthatthecarryingvesselispropelledbysailonly,andviii.inallotherrespectsmeetsthestipulationsoftheCredit.B.EveniftheCreditrequiresthepresentationofacharterpartycontractinconnectionwithacharterpartybilloflading,bankswillnotexaminesuchcharterpartycontract,butwillpassitonwithoutresponsibilityontheirpart.Article26MultimodalTransportDocumentA.IfaCreditcallsforatransportdocumentcoveringatleasttwodifferentmodesoftransport(multimodaltransport),bankswill,unlessotherwisestipulatedintheCredit,acceptadocument,howevernamed,which:i.appearsonitsfacetoindicatethenameofthecarrierormultimodaltransportoperatorandtohavebeensignedorotherwiseauthenticatedby:thecarrierormultimodaltransportoperatororanamedagentfororonbehalfofthecarrierormultimodaltransportoperator,orthemasteroranamedagentfororonbehalfofthemaster.Anysignatureorauthenticationofthecarrier,multimodaltransportoperatorormastermustbeidentifiedascarrier,multimodaltransportoperatorormaster,asthecasemaybe.Anagentsigningorauthenticatingforthecarrier,multimodaltransportoperatorormastermustalsoindicatethenameandthecapacityoftheparty,i.e.carrier,multimodaltransportoperatorormaster,onwhosebehalfthattheagentisacting,andii.indicatesthatthegoodshavebeendispatched,takeninchargeorloadedonboard.Dispatch,takinginchargeorloadingonboardmaybeindicatedbywordingtothateffectonthemultimodaltransportdocumentandthedateofissuancewillbedeemedtobethedateofdispatch,takinginchargeorloadingonboardandthedateofshipment.However,ifthedocumentindicates,bystamporotherwise,adateofdispatch,takinginchargeorloadingonboard,suchdatewillbedeemedtobethedateofshipment,andiii.a.indicatestheplaceoftakinginchargestipulatedintheCreditwhichmaybedifferentfromtheport,airportorplaceofloading,andtheplaceoffinaldestinationstipulatedintheCreditwhichmaybedifferentfromtheport,airportorplaceofdischarge,and/orb.containstheindication"intended"orsimilarqualificationinrelationtothevesseland/orportofloadingand/orportofdischarge,andiv.consistsofasoleoriginalmultimodaltransportdocumentor,ifissuedinmorethanoneoriginal,thefullsetassoissued,andv.appearstocontainallofthetermsandconditionsofcarriage,orsomeofsuchtermsandconditionsbyreferencetoasourceordocumentotherthanthemultimodaltransportdocument(shortform/blankbackmultimodaltransportdocument);bankswillnotexaminethecontentsofsuchtermsandconditions,andvi.containsnoindicationthatitissubjecttoacharterpartyand/ornoindicationthatthecarryingvesselispropelledbysailonly,andvii.inallotherrespectsmeetsthestipulationsoftheCredit.B.EveniftheCreditprohibitstransshipment,bankswillacceptamultimodaltransportdocumentwhichindicatesthattransshipmentwillormaytakeplace,providedthattheentirecarriageiscoveredbyoneandthesamemultimodaltransportdocument.ARTICLE27AirTransportDocumentA.IfaCreditcallsforanairtransportdocument,bankswill,unlessotherwisestipulatedintheCredit,acceptadocument,howevernamed,which:i.appearsonitsfacetoindicatethenameofthecarrierandtohavebeensignedorotherwiseauthenticatedby:thecarrier,oranamedagentfororonbehalfofthecarrier.Anysignatureorauthenticationofthecarriermustbeidentifiedascarrier.Anagentsigningorauthenticatingforthecarriermustalsoindicatethenameandthecapacityoftheparty,i.e.carrier,onwhosebehalfthatagentisacting,andii.indicatesthatthegoodshavebeenacceptedforcarriage,andiii.wheretheCreditcallsforanactualdateofdispatch,indicatesaspecificnotationofsuchdate,thedateofdispatchsoindicatedontheairtransportdocumentwillbedeemedtobethedateofshipment.ForthepurposeofthisArticle,theinformationappearingintheboxontheairtransportdocument(marked"ForCarrierUseOnly"orsimilarexpression)relativetotheflightnumberanddatewillnotbeconsideredasaspecificnotationofsuchdateofdispatch.Inallothercases,thedateofissuanceoftheairtransportdocumentwillbedeemedtobethedateofshipment,andiv.indicatestheairportofdepartureandtheairportofdestinationstipulatedintheCredit,andv.appearstobetheoriginalforconsignor/shippereveniftheCreditstipulatesafullsetoforiginals,orsimilarexpressions,andvi.appearstocontainallofthetermsandconditionsofcarriage,orsomeofsuchtermsandconditions,byreferencetoasourceordocumentotherthantheairtransportdocument;bankswillnotexaminethecontentsofsuchtermsandconditions,andvii.inallotherrespectsmeetsthestipulationsoftheCredit.B.ForthepurposeofthisArticle,transshipmentmeansunloadingandreloadingfromoneaircrafttoanotheraircraftduringthecourseofcarriagefromtheairportofdeparturetotheairportofdestinationstipulatedintheCredit.C.EveniftheCreditprohibitstransshipment,bankswillacceptanairtransportdocumentwhichindicatesthattransshipmentwillormaytakeplace,providedthattheentirecarriageiscoveredbyoneandthesameairtransportdocument.ARTICLE28Road,RailorinlandWaterwaytransportDocumentsA.IfaCreditcallsforaroad,rail,orinlandwaterwaytransportdocument,bankswill,unlessotherwisestipulatedintheCredit,acceptadocumentofthetypecalledfor,howevernamed,which:i.appearsonitsfacetoindicatethenameofthecarrierandtohavebeensignedorotherwiseauthenticatedbythecarrieroranamedagentfororonbehalfofthecarrierand/ortobearareceptionstamporotherindicationofreceiptbythecarrieroranamedagentfororonbehalfofthecarrier.Anysignature,authentication,receptionstamporotherindicationofreceiptofthecarrier,mustbeidentifiedonitsfaceasthatofthecarrier.Anagentsigningorauthenticatingforthecarriermustalsoindicatethenameandthecapacityoftheparty,i.e.carrier,onwhosebehalfthatagentisacting,andii.indicatesthatthegoodshavebeenreceivedforshipment,dispatchorcarriageorwordingtothiseffect.Thedateofissuancewillbedeemedtobethedateofshipmentunlessthetransportdocumentcontainsareceptionstamp,inwhichcasethedateofthereceptionstampwillbedeemedtobethedateofshipment,andiii.indicatestheplaceofshipmentandtheplaceofdestinationstipulatedintheCredit,andiv.inallotherrespectsmeetsthestipulationsoftheCredit.B.Intheabsenceofanyindicationonthetransportdocumentastothenumbersissued,bankswillacceptthetransportdocument(s)presentedasconstitutingafullset.Bankswillacceptasoriginal(s)thetransportdocument(s)whethermarkedasoriginal(s)ornot.C.ForthepurposeofthisArticle,transshipmentmeansunloadingandreloadingfromonemeansofconveyancetoanothermeansofconveyance,indifferentmodesoftransport,duringthecourseofcarriagefromtheplaceofshipmenttotheplaceofdestinationstipulatedintheCredit.D.EveniftheCreditprohibitstransshipment,bankswillacceptaroad,rail,orinlandwaterwaytransportdocumentwhichindicatesthattransshipmentwillormaytakeplace,providedthattheentirecarriageiscoveredbyoneandthesametransportdocumentandwithinthesamemodeoftransport.ARTICLE29CourierandPostReceiptsA.IfaCreditcallsforapostreceiptorcertificateofposting,bankswill,unlessotherwisestipulatedintheCredit,acceptapostreceiptorcertificateofpostingwhich:i.appearsonitsfacetohavebeenstampedorotherwiseauthenticatedanddatedintheplacefromwhichtheCreditstipulatesthegoodsaretobeshippedordispatchedandsuchdatewillbedeemedtobethedateofshipmentordispatch,andii.inallotherrespectsmeetsthestipulationsoftheCredit.B.IfaCreditcallsforadocumentissuedbyacourierorexpediteddeliveryserviceevidencingreceiptofthegoodsfordelivery,bankswill,unlessotherwisestipulatedintheCredit,acceptadocument,howevernamed,which:i.appearsonitsfacetoindicatethenameofthecourier/service,andtohavebeenstamped,signedorotherwiseauthenticatedbysuchnamedcourier/service(unlesstheCreditspecificallycallsforadocumentissuedbyanamedCourier/Service,bankswillacceptadocumentissuedbyanyCourier/Service),andii.indicatesadateofpickuporofreceiptorwordingtothiseffect,suchdatebeingdeemedtobethedateofshipmentordispatch,andiii.inallotherrespectsmeetsthestipulationsoftheCredit.ARTICLE30TransportDocumentsissuedbyFreightForwardersUnlessotherwiseauthorizedintheCredit,bankswillonlyacceptatransportdocumentissuedbyafreightforwarderifitappearsonitsfacetoindicate:i.thenameofthefreightforwarderasacarrierormultimodaltransportoperatorandtohavebeensignedorotherwiseauthenticatedbythefreightforwarderascarrierormultimodaltransportoperator,orii.thenameofthecarrierormultimodaltransportoperatorandtohavebeensignedorotherwiseauthenticatedbythefreightforwarderasanamedagentfororonbehalfofthecarrierormultimodaltransportoperator.ARTICLE31"OnDeck","Shipper’sLoadandCount",NameofConsignorUnlessotherwisestipulatedintheCredit,bankswillacceptatransportdocumentwhich:i.doesnotindicate,inthecaseofcarriagebyseaorbymorethanonemeansofconveyanceincludingcarriagebysea,thatthegoodsareorwillbeloadedondeck.Nevertheless,bankswillacceptatransportdocumentwhichcontainsaprovisionthatthegoodsmaybecarriedondeck,providedthatitdoesnotspecificallystatethattheyareorwillbeloadedondeck,and/orii.bearsaclauseonthefacethereofsuchas"shipper’sloadandcount"or"saidbyshippertocontain"orwordsofsimilareffect,and/oriii.indicatesastheconsignorofthegoodsapartyotherthantheBeneficiaryoftheCredit.ARTICLE32CleanTransportDocumentsA.Acleantransportdocumentisonewhichbearsnoclauseornotationwhichexpresslydeclaresadefectiveconditionofthegoodsand/orthepackaging.B.BankswillnotaccepttransportdocumentsbearingsuchclausesornotationsunlesstheCreditexpresslystipulatestheclausesornotationswhichmaybeaccepted.C.BankswillregardarequirementinaCreditforatransportdocumenttobeartheclause"cleanonboard"ascompliedwithifsuchtransportdocumentmeetstherequirementsofthisArticleandofArticles23,24,25,26,27,28or30.ARTICLE33FreightPayable/PrepaidTransportDocumentsA.UnlessotherwisestipulatedintheCredit,orinconsistentwithanyofthedocumentspresentedundertheCredit,bankswillaccepttransportdocumentsstatingthatfreightortransportationcharges(hereafterreferredtoas"freight")havestilltobepaid.B.IfaCreditstipulatesthatthetransportdocumenthastoindicatethatfreighthasbeenpaidorprepaid,bankswillacceptatransportdocumentonwhichwordsclearlyindicatingpaymentorprepaymentoffreightappearbystamporotherwise,oronwhichpaymentorprepaymentoffreightisindicatedbyothermeans.IftheCreditrequirescourierchargestobepaidorprepaidbankswillalsoacceptatransportdocumentissuedbyacourierorexpediteddeliveryserviceevidencingthatthecourierchargesarefortheaccountofapartyotherthantheconsignee.C.Thewords"freightprepayable"or"freighttobeprepaid"orwordsofsimilareffect,ifappearingontransportdocuments,willnotbeacceptedasconstitutingevidenceofthepaymentoffreight.D.Bankswillaccepttransportdocumentsbearingreferencebystamporotherwisetocostsadditionaltothefreight,suchascostsof,ordisbursementsincurredinconnectionwith,loading,unloadingorsimilaroperations,unlesstheconditionsoftheCreditspecificallyprohibitsuchreference.ARTICLE34InsuranceDocumentsA.Insurancedocumentsmustappearontheirfacetobeissuedandsignedbyinsurancecompaniesorunderwritersortheiragents.B.Iftheinsurancedocumentindicatesthatithasbeenissuedinmorethanoneoriginal,alltheoriginalsmustbepresentedunlessotherwiseauthorizedintheCredit.C.Covernotesissuedbybrokerswillnotbeaccepted,unlessspecificallyauthorizedintheCredit.D.UnlessotherwisestipulatedintheCredit,bankswillacceptaninsurancecertificateoradeclarationunderanopencoverpresignedbyinsurancecompaniesorunderwritersortheiragents.IfaCreditspecificallycallsforaninsurancecertificateoradeclarationunderanopencover,bankswillaccept,inlieuthereof,aninsurancepolicy.E.UnlessotherwisestipulatedintheCredit,orunlessitappearsfromtheinsurancedocumentthatthecoveriseffectiveatthelatestfromthedateofloadingonboardordispatchortakinginchargeofthegoods,bankswillnotacceptaninsurancedocumentwhichbearsadateofissuancelaterthanthedateofloadingonboardordispatchortakinginchargeasindicatedinsuchtransportdocument.F.i.UnlessotherwisestipulatedintheCredit,theinsurancedocumentmustbeexpressedinthesamecurrencyastheCredit.ii.UnlessotherwisestipulatedintheCredit,theminimumamountforwhichtheinsurancedocumentmustindicatetheinsurancecovertohavebeeneffectedistheCIF(cost,insuranceandfreight(..."namedportofdestination"))orCIP(carriageandinsurancepaidto(..."namedplaceofdestination"))valueofthegoods,asthecasemaybe,plus10%,butonlywhentheCIForCIPvaluecanbedeterminedfromthedocumentsontheirface.Otherwise,bankswillacceptassuchminimumamount110%oftheamountforwhichpayment,acceptanceornegotiationisrequestedundertheCredit,or110%ofthegrossamountoftheinvoice,whicheveristhegreater.ARTICLE35TypeofInsuranceCoverA.Creditsshouldstipulatethetypeofinsurancerequiredand,ifany,theadditionalriskswhicharetobecovered.Imprecisetermssuchas"usualrisks"or"customaryrisks"shallnotbeused;iftheyareused,bankswillacceptinsurancedocumentsaspresented,withoutresponsibilityforanyrisksnotbeingcovered.B.FailingspecificstipulationsintheCredit,bankswillacceptinsurancedocumentsaspresented,withoutresponsibilityforanyrisksnotbeingcovered.C.UnlessotherwisestipulatedintheCredit,bankswillacceptaninsurancedocumentwhichindicatesthatthecoverissubjecttoafranchiseoranexcess(deductible).ARTICLE36AllRisksInsuranceCoverWhereaCreditstipulates"insuranceagainstallrisks",bankswillacceptaninsurancedocumentwhichcontainsany"allrisks"notationorclause,whetherornotbearingtheheading"allrisks",eveniftheinsurancedocumentindicatesthatcertainrisksareexcluded,withoutresponsibilityforanyrisk(s)notbeingcovered.ARTICLE37CommercialInvoicesA.UnlessotherwisestipulatedintheCredit,commercialinvoices;i.mustappearontheirfacetobeissuedbytheBeneficiarynamedintheCredit(exceptasprovidedinArticle48),andii.mustbemadeoutinthenameoftheApplicant(exceptasprovidedinsubArticle48(H)),andiii.neednotbesigned.B.UnlessotherwisestipulatedintheCredit,banksmayrefusecommercialinvoicesissuedforamountsinexcessoftheamountpermittedbytheCredit.Nevertheless,ifabankauthorizedtopay,incuradeferredpaymentundertaking,acceptDraft(s),ornegotiateunderaCreditacceptssuchinvoices,itsdecisionwillbebindinguponallparties,providedthatsuchbankhasnotpaid,incurredadeferredpaymentundertaking,acceptedDraft(s)ornegotiatedforanamountinexcessofthatpermittedbytheCredit.C.ThedescriptionofthegoodsinthecommercialinvoicemustcorrespondwiththedescriptionintheCredit.Inallotherdocuments,thegoodsmaybedescribedingeneraltermsnotinconsistentwiththedescriptionofthegoodsintheCredit.ARTICLE38OtherDocumentsIfaCreditcallsforanattestationorcertificationofweightinthecaseoftransportotherthanbysea,bankswillacceptaweightstampordeclarationofweightwhichappearstohavebeensuperimposedonthetransportdocumentbythecarrierorhisagentunlesstheCreditspecificallystipulatesthattheattestationorcertificationofweightmustbebymeansofaseparatedocument.

MISCELLANEOUSPROVISIONSARTICLE39AllowancesinCreditAmount,QuantityandUnitPriceA.Thewords"about","approximately","circa"orsimilarexpressionsusedinconnectionwiththeamountoftheCreditorthequantityortheunitpricestatedintheCreditaretobeconstruedasallowingadifferencenottoexceed10%moreor10%lessthantheamountorthequantityortheunitpricetowhichtheyrefer.B.UnlessaCreditstipulatesthatthequantityofthegoodsspecifiedmustnotbeexceededorreduced,atoleranceof5%moreor5%lesswillbepermissible,alwaysprovidedthattheamountofthedrawingsdoesnotexceedtheamountoftheCredit.ThistolerancedoesnotapplywhentheCreditstipulatesthequantityintermsofastatednumberofpackingunitsorindividualitems.C.UnlessaCreditwhichprohibitspartialshipmentsstipulatesotherwise,orunlesssubArticle(B)aboveisapplicable,atoleranceof5%lessintheamountofthedrawingwillbepermissible,providedthatiftheCreditstipulatesthequantityofthegoods,suchquantityofgoodsisshippedinfull,andiftheCreditstipulatesaunitprice,suchpriceisnotreduced.ThisprovisiondoesnotapplywhenexpressionsreferredtoinsubArticle(A)aboveareusedintheCredit.ARTICLE40PartialShipments/DrawingsA.Partialdrawingsand/orshipmentsareallowed,unlesstheCreditstipulatesotherwise.B.Transportdocumentswhichappearontheirfacetoindicatethatshipmenthasbeenmadeonthesamemeansofconveyanceandforthesamejourney,providedtheyindicatethesamedestination,willnotberegardedascoveringpartialshipments,evenifthetransportdocumentsindicatedifferentdatesofshipmentand/ordifferentportsofloading,placesoftakingincharge,ordispatch.C.Shipmentsmadebypostorbycourierwillnotberegardedaspartialshipmentsifthepostreceiptsorcertificatesofpostingorcourier’sreceiptsordispatchnotesappeartohavebeenstamped,signedorotherwiseauthenticatedintheplacefromwhichtheCreditstipulatesthegoodsaretobedispatched,andonthesamedate.ARTICLE41InstallmentShipments/DrawingsIfdrawingsand/orshipmentsbyinstallmentswithingivenperiodsarestipulatedintheCreditandanyinstallmentisnotdrawnand/orshippedwithintheperiodallowedforthatinstallment,theCreditceasestobeavailableforthatandanysubsequentinstallments,unlessotherwisestipulatedintheCredit.ARTICLE42ExpiryDateandPlaceforPresentationofDocumentsA.AllCreditsmuststipulateanexpirydateandaplaceforpresentationofdocumentsforpayment,acceptance,orwiththeexceptionoffreelynegotiableCredits,aplaceforpresentationofdocumentsfornegotiation.Anexpirydatestipulatedforpayment,acceptanceornegotiationwillbeconstruedtoexpressanexpirydateforpresentationofdocuments.B.ExceptasprovidedinsubArticle44(A),documentsmustbepresentedonorbeforesuchexpirydate.C.IfanIssuingBankstatesthattheCreditistobeavailable"foronemonth","forsixmonths",orthelike,butdoesnotspecifythedatefromwhichthetimeistorun,thedateofissuanceoftheCreditbytheIssuingBankwillbedeemedtobethefirstdayfromwhichsuchtimeistorun.BanksshoulddiscourageindicationoftheexpirydateoftheCreditinthismanner.ARTICLE43LimitationontheExpiryDateA.Inadditiontostipulatinganexpirydateforpresentationofdocuments,everyCreditwhichcallsforatransportdocument(s)shouldalsostipulateaspecifiedperiodoftimeafterthedateofshipmentduringwhichpresentationmustbemadeincompliancewiththetermsandconditionsoftheCredit.Ifnosuchperiodoftimeisstipulated,bankswillnotacceptdocumentspresentedtothemlaterthan21daysafterthedateofshipment.Inanyevent,documentsmustbepresentednotlaterthantheexpirydateoftheCredit.B.IncasesinwhichsubArticle40(B)applies,thedateofshipmentwillbeconsideredtobethelatestshipmentdateonanyofthetransportdocumentspresented.ARTICLE44ExtensionofExpiryDateA.IftheexpirydateoftheCreditand/orthelastdayoftheperiodoftimeforpresentationofdocumentsstipulatedbytheCreditorapplicablebyvirtueofArticle43fallsonadayonwhichthebanktowhichpresentationhastobemadeisclosedforreasonsotherthanthosereferredtoinArticle17,thestipulatedexpirydateand/orthelastdayoftheperiodoftimeafterthedateofshipmentforpresentationofdocuments,asthecasemaybe,shallbeextendedtothefirstfollowingdayonwhichsuchbankisopen.B.Thelatestdateforshipmentshallnotbeextendedbyreasonoftheextensionoftheexpirydateand/ortheperiodoftimeafterthedateofshipmentforpresentationofdocumentsinaccordancewithsubArticle(A)above.IfnosuchlatestdateforshipmentisstipulatedintheCreditoramendmentsthereto,bankswillnotaccepttransportdocumentsindicatingadateofshipmentlaterthantheexpirydatestipulatedintheCreditoramendmentsthereto.C.ThebanktowhichpresentationismadeonsuchfirstfollowingbusinessdaymustprovideastatementthatthedocumentswerepresentedwithinthetimelimitsextendedinaccordancewithsubArticle44(A)oftheUniformCustomsandPracticeforDocumentaryCredits,1993Revision,ICCPublicationNo.500.ARTICLE45HoursofPresentationBanksareundernoobligationtoacceptpresentationofdocumentsoutsidetheirbankinghours.ARTICLE46GeneralExpressionsastoDatesforShipmentA.UnlessotherwisestipulatedintheCredit,theexpression"shipment"usedinstipulatinganearliestand/oralatestdateforshipmentwillbeunderstoodtoincludeexpressionssuchas,"loadingonboard","dispatch","acceptedforcarriage","dateofpostreceipt","dateofpickup",andthelike,andthecaseofaCreditcallingforamultimodaltransportdocumenttheexpression"takingincharge".B.Expressionssuchas"prompt","immediately","assoonaspossible",andthelikeshouldnotbeused.Iftheyareusedbankswilldisregardthem.C.Iftheexpression"onorabout"orsimilarexpressionsareused,bankswillinterpretthemasastipulationthattheshipmentistobemadeduringtheperiodfromfivedaysbeforetofivedaysafterthespecifieddate,bothenddaysincluded.ARTICLE47DateTerminologyforPeriodsofShipmentA.Thewords"to","until","till","from"andwordsofsimilarimportapplyingtoanydateorperiodintheCreditreferringtoshipmentwillbeunderstoodtoincludethedatementioned.B.Theword"after"willbeunderstoodtoexcludethedatementioned.C.Theterms"firsthalf’,"secondhalfofamonthshallbeconstruedrespectivelyasthe1sttothe15th,andthe16thtothelastdayofsuchmonth,alldatesinclusive.D.Theterms"beginning","middle",or"end"ofamonthshallbeconstruedrespectivelyasthe1sttothe10th,the11thtothe20th,andthe21sttothelastdayofsuchmonth,alldatesinclusive.TRANSFERABLECREDITARTICLE48TransferableCreditA.AtransferableCreditisaCreditunderwhichtheBeneficiary(FirstBeneficiary)mayrequestthebankauthorizedtopay,incuradeferredpaymentundertaking,acceptornegotiate(the"TransferringBank"),orinthecaseofafreelynegotiableCredit,thebankspecificallyauthorizedintheCreditasaTransferringBank,tomaketheCreditavailableinwholeorinparttooneormoreotherBeneficiary(ies)(SecondBeneficiary(ies)).B.ACreditcanbetransferredonlyifitisexpresslydesignatedas"transferable"bytheIssuingBank.Termssuchas"divisible","fractionable","assignable",and"transmissible"donotrendertheCredittransferable.Ifsuchtermsareusedtheyshallbedisregarded.C.TheTransferringBankshallbeundernoobligationtoeffectsuchtransferexcepttotheextentandinthemannerexpresslyconsentedtobysuchbank.D.AtthetimeofmakingarequestfortransferandpriortotransferoftheCredit,theFirstBeneficiarymustirrevocablyinstructtheTransferringBankwhetherornotheretainstherighttorefusetoallowtheTransferringBanktoadviseamendmentstotheSecondBeneficiary(ies).IftheTransferringBankconsentstothetransferundertheseconditions,itmust,atthetimeoftransfer,advisetheSecondBeneficiary(ies)oftheFirstBeneficiary’sinstructionsregardingamendments.E.IfaCreditistransferredtomorethanoneSecondBeneficiary(ies),refusalofanamendmentbyoneormoreSecondBeneficiary(ies)doesnotinvalidatetheacceptance(s)bytheotherSecondBeneficiary(ies)withrespecttowhomtheCreditwillbeamendedaccordingly.WithrespecttotheSecondBeneficiary(ies)whorejectedtheamendment,theCreditwillremainunammended.F.TransferringBankchargesinrespectoftransfersincludingcommissions,fees,costsorexpensesarepayablebytheFirstBeneficiary,unlessotherwiseagreed.IftheTransferringBankagreestotransfertheCredititshallbeundernoobligationtoeffectthetransferuntilsuchchargesarepaid.G.UnlessotherwisestatedintheCredit,atransferableCreditcanbetransferredonceonly.Consequently,theCreditcannotbetransferredattherequestoftheSecondBeneficiarytoanysubsequentThirdBeneficiary.ForthepurposeofthisArticle,aretransfertotheFirstBeneficiarydoesnotconstituteaprohibitedtransfer.FractionsofatransferableCredit(notexceedingintheaggregatetheamountoftheCredit)canbetransferredseparately,providedpartialshipment/drawingsarenotprohibited,andtheaggregateofsuchtransferswillbeconsideredasconstitutingonlyonetransferoftheCredit.H.TheCreditcanbetransferredonlyonthetermsandconditionsspecifiedintheoriginalCredit,withtheexceptionof:theamountoftheCredit,anyunitpricestatedtherein,theexpirydate,thelastdateforpresentationofdocumentsinaccordancewithArticle43theperiodforshipment,anyorallofwhichmaybereducedorcurtailed.ThepercentageforwhichinsurancecovermustbeeffectedmaybeincreasedinsuchawayastoprovidetheamountofcoverstipulatedintheoriginalCredit,ortheseArticles.Inaddition,thenameoftheFirstBeneficiarycanbesubstitutedforthatoftheApplicant,butifthenameoftheApplicantisspecificallyrequiredbytheoriginalCredittoappearinanydocument(s)otherthantheinvoice,suchrequirementmustbefulfilled.I.TheFirstBeneficiaryhastherighttosubstitutehisowninvoice(s)(andDraft(s))forthoseoftheSecondBeneficiary(ies),foramountsnotinexcessoftheoriginalamountstipulatedintheCreditandfortheoriginalunitpricesifstipulatedintheCredit,anduponsuchsubstitutionofinvoice(s)(andDraft(s))theFirstBeneficiarycandrawundertheCreditforthedifference,ifany,betweenhisinvoice(s)andtheSecondBeneficiaries(ies’)invoice(s).WhenaCredithasbeentransferredandtheFirstBeneficiaryistosupplyhisowninvoice(s)(andDraft(s))inexchangefortheSecondBeneficiary’s(ies’)invoices(s)(andDraft(s))butfailstodosoonfirstdemand,theTransferringBankhastherighttodelivertotheIssuingBankthedocumentsreceivedunderthetransferredCredit,includingtheSecondBeneficiary’s(ies’)invoice(s)(andDraft(s))withoutfurtherresponsibilitytotheFirstBeneficiary.J.TheFirstBeneficiarymayrequestthatpaymentornegotiationbeeffectedtotheSecondBeneficiary(ies)attheplacetowhichtheCredithasbeentransferreduptoandincludingtheexpirydateoftheCredit,unlesstheoriginalCreditexpresslystatesthatitmaynotbemadeavailableforpaymentornegotiationataplaceotherthanthatstipulatedintheCredit.ThisiswithoutprejudicetotheFirstBeneficiary’srighttosubstitutesubsequentlyhisowninvoice(s)(andDraft(s))forthoseoftheSecondBeneficiary(ies)andtoclaimanydifferenceduetohim.ASSIGNMENTOFPROCEEDSARTICLE49AssignmentofProceedsThefactthataCreditisnotstatedtobetransferableshallnotaffecttheBeneficiary’srighttoassignanyproceedstowhichhemaybe,ormaybecome,entitledundersuchCredit,inaccordancewiththeprovisionsoftheapplicablelaw.ThisArticlerelatesonlytotheassignmentofproceedsandnottotheassignmentoftherighttoperformundertheCredititself.ICCARBITRATIONContractingpartiesthatwishtohavethepossibilityofresortingtoICCArbitrationintheeventofadisputewiththeircontractingpartnershouldspecificallyandclearlyagreeuponICCArbitrationintheircontractor,intheeventnosinglecontractualdocumentexists,intheexchangeofcorrespondencewhichconstitutestheagreementbetweenthem.ThefactofissuingaletterofcreditsubjecttotheUCP500doesNOTbyitselfconstituteanagreementtohaveresorttoICCArbitration.ThefollowingstandardarbitrationclauseisrecommendedbytheICC:"AlldisputesarisinginconnectionwiththepresentcontractshallbefinallysettledundertheRulesofConciliationandArbitrationoftheInternationalChamberofCommercebyoneormorearbitratorsappointedinaccordancewiththesaidRules".