The Uniform Customs and Practice for Documentary Credits (UCP) is a set of rules on the issuance and use of letters of credit. This practice has been standardized by the ICC (International Chambers of Commerce) by publishing the UCP in 1933 and subsequently updating it throughout the years. The ICC has developed and molded the UCP by regular revisions, the current version being the UCP600. The result is the most successful international attempt at unifying rules ever, as the UCP has substantially universal effect. Used by letter of credit practitioners worldwide, Uniform Customs and Practice for Documentary Credits (UCP) are the most successful private rules for trade ever developed. Bankers, traders, lawyers, transporters, academics and all who deal with letter of credit transactions worldwide will refer to UCP 600 on a daily basis.
In this regard, ICC Iran will hold a seminar titled "Uniform Customs and Practice for Documentary Credits ( UCP600) " on 19-20 May 2015 from 8:30 to 12:30 at the place of Iran Chamber of Commerce and will bring together professionals from Iranian banking community who will learn how following the UCP rules when structuring their trade transactions can help facilitating the Documentary Credit process and avoid pitfalls. This session will be led by "Farideh Tazhibi", Secretary of ICC-Iran Banking and continued with a lecture by "Fereidun Shirazi", member of ICC-Iran Banking Commission. The seminar will offer the international audience of bankers, exporters, lawyers, and academics a valuable opportunity to bring their experiences and concerns to the debates.
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