Chào các bạn,
ICC vừa mới ấn hành eUCP Version 2.0 có hiệu lực áp dụng từ ngày 01/7/2019.
Rồi sẽ đến thời kỳ các LC phát hành sẽ tuân thủ theo eUCP Version 2.0 và các ngân hàng Việt Nam cũng sẽ sử dụng phiên bản UCP điện tử để kiểm tra chứng từ xuất trình bằng điện tử hoặc xuất trình hỗn hợp vừa bằng điện tử vừa bằng giấy.
Thật khó ngốn hết eUCP một lần. Từ hôm nay trở đi Mr. Old Man sẽ giúp các bạn mỗi ngày đọc hiểu một điều của eUCP Version 2.0 bao gồm cả phần bình luận bằng cách trích lại nguyên văn từ ấn phẩm của ICC – Commentary on eUCP Version 2.0.
Trong quá trình đọc hiểu, các bạn có thể trao đổi, thảo luận để vấn đề trở nên sáng tỏ hơn.
eUCP Version 2.0 có cả thảy 14 điều. Hi vọng các bạn đủ kiên nhẫn để đi đến cuối con đường. Và sau đó, có thể Mr. Old Man sẽ tiếp tục với eURC Version 1.0 nếu các bạn thấy hứng thú.
Hôm nay chúng ta bắt đầu với Article e1.
Chúc các bạn cuối tuần vui vẻ.
Mr. Old Man
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eUCP VERSION 2.O article-by-article
ARTICLE e1
SCOPE OF THE UNIFORM CUSTOMS AND PRACTICE FOR DOCUMENTARY CREDITS (UCP 600) SUPPLEMENT FOR ELECTRONIC PRESENTATIONS (“eUCP”)
a. The eUCP supplements the Uniform Customs and Practice for Documentary Credits (2007 Revision ICC Publication No. 600,) (“UCP”) in order to accommodate presentation of electronic records alone or in combination with paper documents.
b. The eUCP shall apply where the credit indicates that it is subject to the eUCP (“eUCP credit”).
c. This version is Version 2.0. An eUCP credit must indicate the applicable version of the eUCP. If not indicated, it is subject to the latest version in effect on the date the eUCP credit is issued or, if made subject to eUCP by an amendment accepted by the beneficiary, on the date of that amendment.
d. An eUCP credit must indicate the physical location of the issuing bank. In addition, it must also indicate the physical location of any nominated bank and, if different to the nominated bank, the physical location of the confirming bank, if any, when such location is known to the issuing bank at the time of issuance. If the physical location of any nominated bank and/or confirming bank, is not indicated in the credit, such bank must indicate its physical location to the beneficiary no later than the time of advising or confirming the credit or, in the case of a credit available with any bank, and where another bank willing to act on the nomination to honour or negotiate is not the advising or confirming bank, at the time of agreeing to act on its nomination.
CHANGES FROM eUCP VERSION 1.1
• Heading re-worded in order to add the shorthand acronym ‘eUCP’
• Minor structural changes
• Clarification that if an eUCP credit does not indicate the applicable version of the eUCP, it is subject to the latest version
• Addition of the requirement to add a physical location of a bank
COMMENTARY
The formal title is ‘Scope of the Uniform Customs and Practice for Documentary Credits (UCP 600) Supplement for Electronic Presentations (“eUCP”)’. Because of the length of the title, the shorthand acronym “eUCP” is appended.
This abbreviated form employs the usual prefix that is applied to electronic commerce whilst emphasising the connection with the Uniform Customs and Practice.
Although no specific form of reference to the eUCP is mandated, in fact any reference that clearly indicates the eUCP would be adequate, it is recommended that the term “eUCP” be used for reasons of transparency and clarity.
SUPPLEMENTARY
As indicated by eUCP sub-article e1 (a), the eUCP acts as a supplement to UCP 600. Although the rules do not include a definition of the word ‘supplement’, the intent is that, in practice, they function by reference to UCP 600, and do not stand as a set of self-contained rules, such as ISP98 or URDG 758.
The eUCP contains only those requirements deemed necessary to expand or modify UCP 600 in order to facilitate the presentation of electronic records. Accordingly, it is an absolute necessity to read any eUCP article in combination with the analogous UCP 600 article.
eUCP sub-article e2 (b) (Relationship of the eUCP to the UCP) provides clear direction on the inter-relationship of both sets of rules when the content may differ.
TYPES OF PRESENTATIONS
As stated in eUCP sub-article e1 (a), the rules will only apply when an electronic record is involved. This can be as part of a presentation consisting solely of electronic records, or as part of a mixed presentation with paper documents.
SUBJECT TO THE eUCP
eUCP sub-article e1 (b) highlights that the eUCP applies when a documentary credit ‘indicates that it is subject to the eUCP’. As such, it is expected that an appropriate reference to applicability be apparent.
VERSION NUMBER
eUCP sub-article e1 (c) makes it clear that the eUCP is issued in versions, with the current version being Version 2.0. As a matter of good practice, it is always recommended that an eUCP credit indicate the exact applicable version, rather than leave it open to possible misinterpretation. Should a version number not be stated, sub-article e1 (c) clarifies that the credit would be subject to the latest version in effect on the date the eUCP credit is issued.
As further stated in this sub-article, in the event that a credit is made subject to the eUCP by means of an amendment, and such amendment has been accepted by all relevant parties, the credit would then be subject to the latest version of the eUCP in effect on the date of such amendment.
IMPLICATIONS OF AMENDMENT
As stated above under ‘Version number’, the eUCP makes allowances for a situation wherein a credit subject to UCP 600 may be amended to be subject to eUCP in order to allow for the presentation of electronic records. As stated in the previous ‘ICC Guide to the eUCP’ (ICC Publication No. 639), it is possible that an issuing bank may make a simple statement that the condition of a credit being subject to UCP 600 is now replaced by subjectivity to eUCP Version 2.0.
However, any such amendment requires careful scrutiny of the credit before being issued. In view of the fact that the credit was originally issued subject to UCP 600, then it is consequential that the terms and conditions of the credit were originally mandated upon the presentation of paper documents. As such, the introduction of electronic records requires close assessment in order to ensure there are no potential negative impacts towards the applicant and the parties under the credit. It should also be borne in mind that UCP 600 sub-article 10 (e) (Amendments) remains applicable, with the result that partial acceptance of any amendment addressing a change to the applicable rules is not allowed.
SWIFT
Prior to the effective date of the initial eUCP Version 1.0, SWIFT had amended its Handbook to anticipate issuance of credits subject to the eUCP.
MODIFICATION OR EXCLUSION OF UCP 600 ARTICLES
In view of the fact that the eUCP is a supplement to the UCP, UCP 600 article 1 (Application of UCP) continues to apply, thereby allowing for modifications and exclusions to be made provided they are expressly stipulated in the credit. This means that there is no need for an equivalent article within the eUCP itself. Consequently, the content of eUCP can be modified or excluded in the text of the credit, but no provision in a credit should be deemed to modify or exclude an article in the eUCP unless the credit expressly so indicates.
APPLICATION OF eUCP
UCP 600 article 1 (Application of UCP) stipulates that when the text of a credit expressly indicates that it is subject to UCP 600, the rules are binding on all parties thereto. Symmetrically the same applies for eUCP, in that the provisions of the eUCP in a credit that is subject to the eUCP would be applicable to any person or bank that acted on that credit to the extent of their nomination.
CONFIRMATION
Experience to date has proved that the concept of ‘confirmation’ continues to apply for eUCP credits, as it does for UCP 600 credits. However, an additional reflection for any confirming party to consider with eUCP credits is that they must take cognisance of any related format and data processing requirements. Inability to comply with such requirements could negate the potential for a confirming party to be involved in an eUCP credit.
PHYSICAL LOCATION
It is normal practice that, under UCP 600, a physical location for presentation will be stated within in the credit. While ‘place of presentation’ is not formally defined in UCP 600, it means the place where the beneficiary is required or permitted to present documents in order to satisfy the required conditions of the issuer or confirmer’s documentary credit obligation. UCP 600 sub-article 6 (d) (ii) (Availability, Expiry Date and Place for Presentation) states that the place of the bank with which the credit is available is the place for presentation. Although not expressly stated, a physical address is implied.
The eUCP defines ‘place for presentation’ as an electronic address. Where an eUCP credit requires or permits presentation of electronic records, their place of presentation will typically be to an electronic address and not a physical one. As such, and in order to allow banks to ensure compliance with applicable regulatory and sanctions issues, it is essential that an eUCP credit also indicate the necessary physical location(s) as stated in sub-article e1 (d).
