ICC Uniform Customs and Practice for Documentary Credits 2007 Revision 
UCP 600 
Commercial letters of credit are the lifeblood of international trade. For more than 70 years, the Uniform Customs and Practice for Documentary Credits (UCP)- the International Chmber of Commerce´s rule on documentary credits - have governed letter of credit transaxtions worldwide. 
UCP 600 contains important new provision in the field of transport, insurance and compliance, which will form the basis of letter of credit transaction for years to come. 
This revised UCP includes a "Definitions" article designed to clarify the meaning of key terms, a changed practice for giving a notice of refusal and other modifications you will need to know. It also includes Version1.1 of teh eUCP - the 12 articles of ICC´s supplement to the UCP that govern presentation of documentas in electronic form. 
Since inception, the UCP has remained a vital component of international trade. Bankers, trades, lawyers, transporters, academics and all who deal with letter of credit transactions will refer to UCP 600 on a daily basis.