AIB Tradefinance - Glossary of Terms Thu, 20 Jun 2013
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UCP
Uniform Customs and Practice for Documentary Credit developed by the International Chamber of Commerce as the rules that govern the operation of Letter of Credit transactions worldwide. ICC publication No.500 contains details of the rules currently in use.
URC
Uniform Rules for Collections developed by the International Chamber of Commerce as the rules that govern the operation of collection transactions worldwide. ICC publication No.522 contains the details of the rules currently in use.

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