This version is Version 1. A credit must indicate the applicable version of the eUCP. If it does not do so, it is subject to the version in effect on the date the credit is issued or, if made subject to eUCP by an amendment accepted by the beneficiary, on the date of that amendment. Where the eUCP applies, its provisions shall prevail to the extent that they would produce a result different from the application of the UCP.
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This version is Version 1. A credit must indicate the applicable version of the eUCP. If it does not do so, it is subject to the version in effect on the date the credit is issued or, if made subject to eUCP by an amendment accepted by the beneficiary, on the date of that amendment.
Where the eUCP applies, its provisions shall prevail to the extent that they would produce a result different from the application of the UCP. Article e3: Definitions a. The following terms used in the eUCP shall have the following meanings: i. Article e4: Format An eUCP credit must specify the formats in which electronic records are to be presented.
If the format of the electronic record is not so specified, it may be presented in any format. Article e5: Presentation a.
Electronic records may be presented separately and need not be presented at the same time. If an eUCP credit allows for presentation of one or more electronic records, the beneficiary is responsible for providing a notice to the bank to which presentation is made signifying when the presentation is complete. The notice of i. Each presentation of an electronic record and the presentation of paper documents under an eUCP credit must identify the eUCP credit under which it is presented. A presentation not so identified may be treated d.
If the only electronic record remaining to be presented is the notice of completeness, it may be given by telecommunications or by paper document and will be deemed timely, provided that it is sent before the bank is able to receive an electronic record. An electronic record that cannot be authenticated is deemed not to have been presented.
Article e6: Examination a. The failure of the indicated system to provide access to the required electronic record at the time of examination shall constitute a discrepancy. The forwarding of electronic records by a nominated bank pursuant to its nomination signifies that it has satisfied itself as to the apparent authenticity of the electronic records.
The inability of the issuing bank, or confirming bank, if any, to examine an electronic record in a format required by the eUCP credit or, if no format is required, to examine it in the format presented is not a basis for refusal.
Article e7: Notice of Refusal a. If the time for presentation of documents or the notice of completeness is extended, the time for the examination of documents commences on the first following banking day on which such bank is able to receive the notice of completeness. If an issuing bank, the confirming bank, if any, or a nominated bank acting on its nomination, provides a notice of refusal of a presentation which includes electronic records and does not receive instructions from the party to which notice of refusal is given within 30 calendar days from the date the notice of refusal is given for the disposition of the electronic records, the bank shall return any paper documents not previously returned to the presenter but may dispose of the electronic records in any manner deemed appropriate without any responsibility.
Article e8: Originals and Copies Any requirement of the UCP or an eUCP credit for presentation of one or more originals or copies of an electronic record is satisfied by the presentation ii. Article e9: Date of Issuance Unless an electronic record contains a specific date of issuance, the date on which it appears to have been sent by the issuer is deemed to be the date of issuance.
The date of receipt will be deemed to be the date it was sent if no other date is apparent. Article e Transport If an electronic record evidencing transport does not indicate a date of shipment or dispatch, the date of issuance of the electronic record will be deemed to be the date of shipment or dispatch. However, if the electronic record bears a notation that evidences the date of shipment or dispatch, the date of the notation will be deemed to be the date of shipment or dispatch.
A notation showing additional data content need not be separately signed or otherwise authenticated. If the bank requests that an electronic record be re-presented: i.
Version 1. The eUCP continues to provide definitions permitting UCP terminology to accommodate the electronic presentation of the equivalent of paper documents and providing necessary rules to allow both sets of rules to work together.
The eUCP allows for presentation electronically or for a mixture of paper documents and electronic presentation. It is important for the eUCP reader to understand that many articles of the UCP are not impacted by the presentation of the electronic equivalent of paper documents and do not require any changes to accommodate electronic presentation.
When read together, the UCP and the eUCP provide the necessary rules for electronic presentation and are broad enough to anticipate developing practice in this area. For that purpose, the eUCP is issued in version numbers that will allow for a revision and subsequent version if the need arises.
The eUCP has been specifically drafted to be independent of specific technologies and developing electronic commerce systems, i. These technologies are evolving, and it is left to the parties to the credit to agree on the technology or systems to be used for presentation of electronic records in compliance with the requirements of the eUCP. The eUCP has been created to meet the demands of the market for the presentation of electronic documents.
The market has created a higher standard in anticipation of increased processing efficiencies when the electronic equivalents of paper documents are presented. In anticipation of this demand and to meet market expectations, several changes to the standards established by the UCP have been deemed necessary for an electronic presentation.
These changes are consistent with current practice and the expectations of the marketplace. All of the articles of eUCP Version 1. Where necessary, changes have been made to address the unique issues related to presentation of the electronic equivalent of paper documents.
This version is Version 1. A credit must indicate the applicable version of the eUCP. If it does not do so, it is subject to the version in effect on the date the credit is issued or, if made subject to eUCP by an amendment accepted by the beneficiary, on the date of that amendment. Where the eUCP applies, its provisions shall prevail to the extent that they would produce a result different from the application of the UCP. If an eUCP credit allows the beneficiary to choose between presentation of paper documents or electronic records and it chooses to present only paper documents, the UCP alone shall apply to that presentation. The following terms used in the eUCP shall have the following meanings: i.