RE IMBUSEMENT UCP600
ucp icc publication no. 600> Uniform Customs and Practice (guide). UCP600 ICC> International Chamber of Commerce UCP600 stands for Uniform Customs and Practice (guide). UCP600 What is UCP 600? What is UCPDC 600? UCP 600 is prepared by International Chamber of Commerce’s (ICC) Commission on Banking Technique and Practice. Its full name is 2007 Revision of Uniform Customs and Practice for Documentary Credits, UCP 600, and (ICC Publication No. 600). The ICC Commission on Banking Technique and Practice approved UCP 600 on 25 October 2006. The rules have been effective since 1 July 2007. What does reimbursement mean? Reimbursement is defined as a compensation paid to someone for an expense. In order to be reimbursed by another person or organisation first of all you have to make some expenses, then you will be qualified for a reimbursement. The same logic apply to reimbursement as a trade finance term. A confirming bank or a nominated bank first honors or