• Abbreviation for the “Uniform Customs and Practice for Documentary Credits,” published by the International Chamber of Commerce. This is the most frequently used standard for making payments in international trade; e.g., paying on a Letter of Credit. It is most frequently referred to by its shorthand title: UCP No. 500. This revised publication reflects recent changes in the transportation and banking industries, such as electronic transfer of funds.
  • Uniform Customs and Practice of Documentary Credit. The “bankers Bible” onDocumentary Credit Interpretation issued by the the International Chamber ofCommerce (I.C.C.)