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UCP


Source: Supply Chain & Logistics Glossary
Author: VV.AA.
Institute: Georgia Tech - The Supply Chain and Logistics Institute

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Abbreviation for the "Uniform Customs and Practice for Documentary Credits," published by the International Chamber of Commerce. This is the most frequently used standard for making payments in international trade; e.g., paying on a Letter of Credit. It is most frequently referred to by its shorthand title: UCP No. 500. This revised publication reflects recent changes in the transportation and banking industries, such as electronic transfer of funds.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 




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