eUCP Version 2.0: Article e5 Format


This article requires that an eUCP credit state the format of a required or permitted electronic record. Should this not be the case, the issuing and confirming banks take on any resultant risk.


Format is used to describe the system language or protocol by which the electronic record is established.  


In view of the fact that data processing systems are unlikely to be able to access all formats, it is essential that any data received is readable by the relevant data processing system(s). 


Based on the premise that the eUCP is technology neutral, it does not indicate how any format should be specified. However, in order for a credit to be workable, it is incumbent upon the involved parties to ensure that the format is comprehensible to the beneficiary and any nominated bank. 


As a result, if a credit fails to specify the required format, then the electronic records can be presented in any format.


The direct consequence of this situation would be that neither the issuing bank nor the confirming bank would be in a position to dishonour on the basis that they are unable to read the format of the electronic records.


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