Updated eUCP and new eURC ready for download
Recently the ICC Banking Commission announced the release of the updated eUCP (version 2.0) and new eURC (version 1.0).
The eUCP and eURC rules have been intentionally developed with a version number in order that they can be updated regularly without impacting upon other existing ICC rules, thereby reducing the time required to develop any potential identified revision. Thus, an eUCP and eURC collection instruction must indicate the applicable version of the eUCP and eURC.
eUCP 2.0
The eUCP supplements the Uniform Customs and Practice for Documentary Credits (2007 Revision, ICC Publication No. 600) (UCP) in order to accommodate presentation of electronic records alone or in combination with paper documents.
The eUCP shall apply where the LC indicates that it is subject to the eUCP (eUCP LC).
eURC 1.0
The eURC supplements the Uniform Rules for Collections (1995 Revision, ICC Publication No. 522) (URC) in order to accommodate presentation of electronic records alone or in combination with paper documents.
The eURC shall apply where a collection instruction indicates that it is subject to the eURC (eURC collection instruction).
Both sets of rules can be downloaded via this link:
Please note that for eURC it applies that the free-of-charge version includes the full URC 522. For eUCP it is (as far as we are informed) the other way around: A new version of the UCP 600 – that include eUCP 2.0 – will be made available for purchase at the ICC Store. Of course, eUCP 2.0 is available free of charge via the above link.
Already now there are lcviews premium pages covering the articles in both eUCP 2.0 and eURC 1.0. The new pages are linked to the relevant UCP 600 and URC 522 pages.
Both sets of rules came into force 1st July 2019.