LC SWIFT Format: Field 40E (Applicable Rules)
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youn...@gmail.com
Feb 18, 2009, 8:47:50 PM2/18/09
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LC SWIFT Format: Field 40E (Applicable Rules)
The next mandatory field is field 40E (Applicable Rules) which must
present in every LC issued. This field is customarily indicated by the
issuing bank which corresponds to the type of the LC issued, either
commercial LC or standby LC. This field must contain one of the
following codes:
EUCP LATEST VERSION
The documentary credit is subject to the version of the supplement of
the ICC Uniform Customs and Practice for Documentary Credits for
Electronic Presentations, International Chamber of Commerce, Paris,
France, which is in effect on the date of issue.
EUCPURR LATEST VERSION
The documentary credit is subject to the version of the supplement of
the ICC Uniform Customs and Practice for Documentary Credits for
Electronic presentations and the version of the Uniform Rules for Bank-
to-Bank Reimbursements.
ISP LATEST VERSION
The standby letter of credit is subject to the version of the ICC
International Standby Practices, International Chamber of Commerce,
Paris, France, which is in effect on the date of issue.
OTHR
The credit is subject to any other rules.
UCP LATEST VERSION
The documentary credit is subject to the version of the ICC uniform
Customs and Practice for Documentary Credits, International Chamber of
Commerce, Paris, France, which is in effect on the date of issue.
UCPURR LATEST VERSION
The documentary credit is subject to the version of the ICC Uniform
Custom and Practice for Documentary Credits and the version of the
Uniform Rules for Bank-to-Bank Reimbursements.
The incorporation of either of the codes mentioned above into the LC
forms the text of the LC and therefore governs the LC primarily, but
of course not solely. Such incorporation will also form a parol of
evidence rules in the court of law. Courts and arbitration tribunals
applies the UCP because it is the most universally followed set of
customary documentary credit rules. However, it does not prevent a
court from applying its country’s national law.
For the purpose of this example, which refers to commercial letter of
credit, the appropriate code to be incorporated is UCPURR LATEST
VERSION or to indicate the full narration only instead of the code.
The next mandatory field is field 40E (Applicable Rules) which must
present in every LC issued. This field is customarily indicated by the
issuing bank which corresponds to the type of the LC issued, either
commercial LC or standby LC. This field must contain one of the
following codes:
EUCP LATEST VERSION
The documentary credit is subject to the version of the supplement of
the ICC Uniform Customs and Practice for Documentary Credits for
Electronic Presentations, International Chamber of Commerce, Paris,
France, which is in effect on the date of issue.
EUCPURR LATEST VERSION
The documentary credit is subject to the version of the supplement of
the ICC Uniform Customs and Practice for Documentary Credits for
Electronic presentations and the version of the Uniform Rules for Bank-
to-Bank Reimbursements.
ISP LATEST VERSION
The standby letter of credit is subject to the version of the ICC
International Standby Practices, International Chamber of Commerce,
Paris, France, which is in effect on the date of issue.
OTHR
The credit is subject to any other rules.
UCP LATEST VERSION
The documentary credit is subject to the version of the ICC uniform
Customs and Practice for Documentary Credits, International Chamber of
Commerce, Paris, France, which is in effect on the date of issue.
UCPURR LATEST VERSION
The documentary credit is subject to the version of the ICC Uniform
Custom and Practice for Documentary Credits and the version of the
Uniform Rules for Bank-to-Bank Reimbursements.
The incorporation of either of the codes mentioned above into the LC
forms the text of the LC and therefore governs the LC primarily, but
of course not solely. Such incorporation will also form a parol of
evidence rules in the court of law. Courts and arbitration tribunals
applies the UCP because it is the most universally followed set of
customary documentary credit rules. However, it does not prevent a
court from applying its country’s national law.
For the purpose of this example, which refers to commercial letter of
credit, the appropriate code to be incorporated is UCPURR LATEST
VERSION or to indicate the full narration only instead of the code.
youn...@gmail.com
Feb 18, 2009, 8:48:12 PM2/18/09
to 工作记录
youn...@gmail.com
Feb 18, 2009, 9:14:49 PM2/18/09
to 工作记录
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