Documentary Credit terms & conditions


In respect of documentary credits, UCP 600 makes it clear that presentations must be in accodance with the terms and conditions of the dcumentary credit.

But what is a term? What is a condition? Are they separate or co-dependent?

Our take on this below:

- A condition is a term but a term is not necessarily a condition. 

- Stating the ‘terms’ of a credit would be sufficient to cover everything. 

- The doubling-up of words, ie terms and conditions, is a habit from long ago derived from contractual law. 









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