Uniform Customs and Practice for Commercial Documentary Credits

Uniform Customs and Practice for Commercial Documentary Credits
(UCP)
A publication of the International Chamber of Commerce which codifies the widespread understanding of bankers and merchants about the mechanics and operations of letters of credit. The UCP is law in the sense that the typical commercial credit is issued subject to the UCP, and courts refer to the UCP to interpret and supplement primary sources of credit law, such as U.C.C. Article 5

Black's law dictionary. . 1990.

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