NAITA Briefing with Wachovia
UCP 600 Letters of Credit
May 10, 2007 at BizTech
Registration at 8:45 a.m. • Briefing 9:00 - 11:00 a.m.
UCP 600 is the sixth Uniform Customs and Practice for
Documentary Credits revision since 1933. It is the result of a 3 1/2 year process involving a consulting group of 41 international business experts
combining current trade practice with the time-honored reliability found throughout the letter of credit process. All in all, it is a considerable
improvement over its predecessor, UCP 500.
Like their five previous revisions, these up-to date, well-crafted
rules will function only as well as they are followed. This means understanding and compliance on the part of banks, the sellers and buyers who use
L/Cs, and their service providers who provide and use the documents that make credits work.
On July 1, 2007, the rules governing letters of credit, the Uniform
Customs and Practice for Documentary Credits (UCP), will be changed for the first time since 1993. Given the wide-spread use of L/Cs in international trade, it is important for importers and exporters, as well
as their bankers, to be familiar with the rules governing this payment mechanism. In this upcoming seminar, NAITA and Wachovia will parter to
remove the mystery around the changes and take an in-depth look into the new UCP600 in an easily understood presentation. This seminar will be led by H. Christian Pirkle, Vice President in the Global Trade
Services Group of Wachovia Bank.
Register now - click here for the flyer and reservation form. Please contact NAITA at 256.532.3505 or naita@naita.org for further information.
