A happy birthday for UCP 600?

On July 1 the letter of credit community celebrated the first anniversary of the introduction of the UCP 600. Kim Christensen, trade finance business and product specialist, at Nordea in Copenhagen, reviews how successfully the new guidelines have been implemented.

No doubt the UCP 500 revision was a huge task. The drafting group received more than 5,000 comments to the released drafts and almost every single word was changed.