Question

What does the 'UCP 600' refer to in the context of

Q: Answer-What does the 'UCP 600' refer to in the context of documentary credit?

UCP 600 Uniform Customs and Practice for Documentary Credits is a set of rules established by the International Chamber of Commerce ICC that governs the use of letters of credit in international trade. These rules provide standard procedures for the issuance, negotiation, and payment of documentary credits.

documentary credit?

A The governing body that oversees international trade regulations.

B A set of guidelines issued by the World Bank for financial institutions.

C A set of internationally recognized rules that govern documentary credits and letters of credit.

D The specific documentary credit terms for trade between the European Union and the United States.

E A certification program for banks issuing letters of credit.

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What does the 'UCP 600' refer to in the context of

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