eUCP Version 2.0: Article e6 Presentation


Presentation is not defined in the eUCP, while UCP 600 refers either to the delivery of documents to an issuing or nominated bank, or to the documents themselves as delivered.


The modifying of practices in the paper world to that of electronic records impacts on several areas including: the place of presentation, the time of presentation, whether documents and electronic records may be presented separately, and, if so, how it may be determined that a presentation is complete, and the consequences of the inability of a bank to receive or authenticate an electronic record. This eUCP article focuses on these issues.


Sub-article e6 (a) mirrors UCP 600 sub-article 6 (d) (Availability, Expiry Date and Place for Presentation) in that a credit must state the place for presentation. It also highlights that if a credit allows both paper documents and electronic records, then the place for presentation of each must be specified in the credit. 


Sub-article e6 (b), in mirroring actuality, states that electronic records may be presented separately.   It is a fact that the issuing bank and the applicant may require particular electronic records to be sent directly by the third party that creates them. 


Sub-article e6 (c) highlights that a presentation cannot be considered as having taken place until the presenter provides a notice of completeness to the nominated bank, confirming bank, if any, or to the issuing bank, where a presentation is made directly. Such notice can be provided by electronic record or paper document. It is important that the notice of completeness identifies the credit to which it relates. Whilst the notice of completeness is a pre-requisite for a presenter, it is not required when a nominated bank delivers electronic records to a confirming or issuing bank.


Sub-article e6 (d) emphasises that all presentations of electronic records must provide identification of the credit to which they relate.  Should such identification not be provided, then the presentation will be considered as not received until it is. 


Sub-article e6 (e) clarifies that if a bank is open for business but is unable to receive electronic records on the stated expiry date or last day for presentation, then the period for presentation is extended to the next banking day on which such bank is able to receive an electronic record.


Sub-article e6 (f) states that in circumstances where an electronic record has not been authenticated, it is to be regarded as not presented. It should be noted that in reality such a presentation is unlikely to even be seen by the processing department as it would not get beyond a bank's authentication systems.

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