ICC India Roadshow – UCP 600 and Documentary Credits
ICC India, in association with JP Morgan Bank, organised three seminars on “UCP 600 and the Documentary Credit” on February 5-8 in New Delhi, Chennai and Mumbai respectively. These seminars were attended by bankers, corporates, exporters, importers and consultants.
It provided a comprehensive review of the application of the UCP 600 in the global environment and took a detailed technical look at proven methods of generating discrepancy free transport and commercial documents for presentation under Documentary Letters of Credit based on the UCP 600 rules and international standard banking practice.
This seminar series had a broad focus on “dealing with the challenge of generating and presenting discrepancy free transport documents thus facilitating effective and timely conclusion of contracts and positively managed international trade cash flow and security of payment”.
Innovations in trade finance such as the Bank Payment Obligation (BPO), Standby LC’s securing ongoing shipments, Technology for Trade, and high profile legal cases and ICC Official Opinions were also explored.
The seminars were led by Mr Vincent O’Brien, Chair, ICC Banking Commission, Market Intelligence Group.