DOCUMENTARY LETTER OF CREDIT IN THE REGULATION OF 600-PARIS PUBLICATION
In the year 2007 was adopted the Publication no. 600 of Paris regarding the Rules and the Uniform Practices for documentary letters of credit which replaced the Publication no. 500. Publication no. 600 (UCP 600) is applied to all the irrevocable documentary letters of credit when the parties make ex...
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| Format: | Article |
| Language: | English |
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Nicolae Titulescu University Publishing House
2011-04-01
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| Series: | Challenges of the Knowledge Society |
| Subjects: | |
| Online Access: | http://cks.univnt.ro/uploads/cks_2011_articles/index.php?dir=01_law%2F&download=cks_2011_law_art_024.pdf |
| _version_ | 1818921132192956416 |
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| author | VASILE NEMES |
| author_facet | VASILE NEMES |
| author_sort | VASILE NEMES |
| collection | DOAJ |
| description | In the year 2007 was adopted the Publication no. 600 of Paris regarding the Rules and the Uniform Practices for documentary letters of credit which replaced the Publication no. 500. Publication no. 600 (UCP 600) is applied to all the irrevocable documentary letters of credit when the parties make express reference to these Rules. The Publication no. 600 includes uniform rules, international practices and standards of irrevocable documentary letters of credit. The new Publication has brought a number of changes on the issues regarding the performance of the letters of credit, both in the relationship with the nonbanking institutions participants and in the relationship between the credit institutions participating in the performance of the letter of credit. This study, without being exhaustive, aims to capture the main aspects of novelty brought by the publication no. 600 and their legal approach to the new perspective of the international trade relations. It has in view, in particular, the irrevocable character of the letter of credit, the elaboration method and procedure of the letter of credit, the participants to the unfolding of the specific relationship of the letter of credit and the main duties of the involved credit institutions. |
| first_indexed | 2024-12-20T01:32:47Z |
| format | Article |
| id | doaj.art-7110c075db3e4a089550365263567da1 |
| institution | Directory Open Access Journal |
| issn | 2068-7796 |
| language | English |
| last_indexed | 2024-12-20T01:32:47Z |
| publishDate | 2011-04-01 |
| publisher | Nicolae Titulescu University Publishing House |
| record_format | Article |
| series | Challenges of the Knowledge Society |
| spelling | doaj.art-7110c075db3e4a089550365263567da12022-12-21T19:58:05ZengNicolae Titulescu University Publishing HouseChallenges of the Knowledge Society2068-77962011-04-011-212232DOCUMENTARY LETTER OF CREDIT IN THE REGULATION OF 600-PARIS PUBLICATIONVASILE NEMESIn the year 2007 was adopted the Publication no. 600 of Paris regarding the Rules and the Uniform Practices for documentary letters of credit which replaced the Publication no. 500. Publication no. 600 (UCP 600) is applied to all the irrevocable documentary letters of credit when the parties make express reference to these Rules. The Publication no. 600 includes uniform rules, international practices and standards of irrevocable documentary letters of credit. The new Publication has brought a number of changes on the issues regarding the performance of the letters of credit, both in the relationship with the nonbanking institutions participants and in the relationship between the credit institutions participating in the performance of the letter of credit. This study, without being exhaustive, aims to capture the main aspects of novelty brought by the publication no. 600 and their legal approach to the new perspective of the international trade relations. It has in view, in particular, the irrevocable character of the letter of credit, the elaboration method and procedure of the letter of credit, the participants to the unfolding of the specific relationship of the letter of credit and the main duties of the involved credit institutions.http://cks.univnt.ro/uploads/cks_2011_articles/index.php?dir=01_law%2F&download=cks_2011_law_art_024.pdfletter of creditPublication 600documentaryirrevocablechief accountantissuing bankconfirming banknominated bankbeneficiary |
| spellingShingle | VASILE NEMES DOCUMENTARY LETTER OF CREDIT IN THE REGULATION OF 600-PARIS PUBLICATION Challenges of the Knowledge Society letter of credit Publication 600 documentary irrevocable chief accountant issuing bank confirming bank nominated bank beneficiary |
| title | DOCUMENTARY LETTER OF CREDIT IN THE REGULATION OF 600-PARIS PUBLICATION |
| title_full | DOCUMENTARY LETTER OF CREDIT IN THE REGULATION OF 600-PARIS PUBLICATION |
| title_fullStr | DOCUMENTARY LETTER OF CREDIT IN THE REGULATION OF 600-PARIS PUBLICATION |
| title_full_unstemmed | DOCUMENTARY LETTER OF CREDIT IN THE REGULATION OF 600-PARIS PUBLICATION |
| title_short | DOCUMENTARY LETTER OF CREDIT IN THE REGULATION OF 600-PARIS PUBLICATION |
| title_sort | documentary letter of credit in the regulation of 600 paris publication |
| topic | letter of credit Publication 600 documentary irrevocable chief accountant issuing bank confirming bank nominated bank beneficiary |
| url | http://cks.univnt.ro/uploads/cks_2011_articles/index.php?dir=01_law%2F&download=cks_2011_law_art_024.pdf |
| work_keys_str_mv | AT vasilenemes documentaryletterofcreditintheregulationof600parispublication |