On the Standard for Examination of Documents in UCP600

In legal relations of letter of credit, the Standard for Examination of Documents the banks hold has significant effects on the rights and obligations of the parties.As the Uniform Customs and Practice for Documentary Credits with universal acceptance by practitioners all over the world ,UCP600 reviews the defects of Standard for Checking Documents in UCP500 and revises the UCP500 totally,based on examining and appraising the pertinent suggestions and decision made by ICC and DOCDEX and Judicial Practice in different countries. This paper analyzes the new standard established by UCP600 and appraises the effects it brings on the rights and obligations of the parties.