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Acronym Finder

What is UCP ?

Uniform Customs and Practice

UCP or UC (UCP an acronym Uniform Customs and Practice for Documentary Credits) rules and regulations only and are matched by the International Chamber of Commerce ICC and for integration in the process of preparation of L / C is produced now in more than 175 countries around the world use. L / C is one of the practices of the payment of money to a foreign seller with the mediation of the bank, the two sides (buyer and seller) in the two countries and the benefits of it is that none of the two sides of the trade risk incurred will not be.

in 1933, and during the meeting, the Chamber of Commerce, International, Members, its standard has been erected, was that every ten years, it is the conditions, economic, etc. coordinated. The most important of which Yossi S & P 500 from 1994 about the run took place from 2003 studies and review that to correct and revise it with the presence of 41 members of the twenty country in a few draft was prepared. Finally, the flows to pass Yossi 600 leading. ... that from 1 July, 2007, equal to 10 July 1386 was implemented. In this room, the country, Iran also has a committee.
UCP