# ICC Uniform Customs and Practice for Documentary Credits (UCP 600)

*Last updated: 2026-06-24*

> Adopted in 2007, UCP 600 is the current version of the ICC Uniform Customs and Practice for Documentary Credits and serves as the global standard for letter of credit transactions.

Adopted in 2007, UCP 600 is the current version of the ICC Uniform Customs and Practice for Documentary Credits and serves as the global standard for letter of credit transactions. It governs how credits are issued, transmitted, and examined, defining the rights and obligations of exporters, importers, issuing banks, and confirming banks. Compared to its predecessor UCP 500, UCP 600 streamlined terminology, eliminated interpretive ambiguities, and reduced the document examination period for banks to five banking days. For freight forwarders and exporters, UCP 600 has direct operational impact: transport documents such as bills of lading or air waybills must precisely match the credit's terms, or discrepancies will delay payment.

**Source:** [https://iccwbo.org/business-solutions/trade-finance/ucp-600/](https://iccwbo.org/business-solutions/trade-finance/ucp-600/)

## Quick Facts

| Property | Value |
|---|---|
| Term | ICC Uniform Customs and Practice for Documentary Credits (UCP 600) |
| Language | EN |
| Word count | 109 |
| Last updated | 2026-06-24 |
| Source | https://iccwbo.org/business-solutions/trade-finance/ucp-600/ |

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