UCP 500 definition

UCP 500 means the Uniform Customs and Practice for Documentary Credits, 1993 Revision, ICC Publication No. 500.

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UCP 500 has the meaning set forth in Section 1.12 of the Agreement.

UCP 500 has the meaning specified in Section 2.03(h) of this Agreement.

Examples of UCP 500 in a sentence

The Requested Letter of Credit will be subject to [UCP 500] [ISP98].
Each standby Letter of Credit shall be subject either to the Uniform Customs and Practice for Documentary Credits (1993 Revision), International Chamber of Commerce Publication No. 500, and any amendments or revision thereof adhered to by the Issuer (“UCP 500”) or the International Standby Practices (ISP98-International Chamber of Commerce Publication Number 590) (“ISP98 Rules”), as determined by Agent, and each trade Letter of Credit shall be subject to UCP 500.
The Letter of Credit is to be issued pursuant to ISP98 rather than UCP 500.
Each standby Letter of Credit shall be subject either to the Uniform Customs and Practice for Documentary Credits (1993 Revision), International Chamber of Commerce Publication No. 500, and any amendments or revision thereof adhered to by the Issuer (“UCP 500”) or the International Standby Practices (ISP98-International Chamber of Commerce Publication Number 590) (the “ISP98 Rules”), as determined by Agent, and each trade Letter of Credit shall be subject to UCP 500.
This Control Agreement is made subject to the practice rules (e.g., UCP 500 or ISP 98) to which the Credit is subject.
Verification of the documents provided under Appendix I shall be limited to checking their apparent compliance as defined in the Uniform Customs and Practices for Documentary Credits — ICC Publication 500 (UCP 500 latest revision).
If the Credit is issued subject to UCP 500 or 600, unless otherwise agreed, in the event that any installment of the Credit is not drawn within the period allowed for that installment, the Credit may continue to be available for any subsequent installments in the sole discretion of the Bank, notwithstanding Article 41 of UCP 500 or Article 32 of UCP 600.
Unless otherwise expressly agreed by the Issuing Lender and Company when a Letter of Credit is issued, the rules of the Uniform Customs and Practice for Documentary Credits (UCP 500) (the “UCP”), as most recently published by the International Chamber of Commerce at the time of issuance, shall apply to each Letter of Credit.
The Letter of Credit is subject to and governed by the laws of the State of New York, without regard to the conflict of law principles thereof, and, to the extent not inconsistent with such laws, UCP 500.
APPLICANT SHALL BE RESPONSIBLE FOR THE PAYMENT OF ANY TRANSFER FEE AND ANY OTHER REQUIREMENTS RELATIVE TO THE UCP 500 (AS HEREINAFTER DEFINED) AND U.S. GOVERNMENT REGULATIONS.

More Definitions of UCP 500

UCP 500 shall have the meaning set forth in Section 10.09(b).

UCP 500 means the Uniform Customs and Practice for Documentary Credits (1993 Revision), International Chamber of Commerce Publication No. 500, as the same may be amended from time to time.

UCP 500 has the meaning assigned to such term in Section 20.

UCP 500 has the meaning assigned to such term in Section 2.05(j).

UCP 500 means the Uniform Customs and Practice for Documentary Credits (1994 Revision) International Chamber of Commerce Publication No. 500 and includes the UCP 500 as from time to time amended, modified or supplemented and any document subsequently adopted which amends, modifies or supplements UCP 500; and