Glossary items beginning with: u
ICC Uniform Customs and Practice for Documentary Credits. A set of guidelines, drawn by the International Chamber of Commerce primarily for banks, under which the issuance and handling of Letters of Credit are governed virtually worldwide. The most recent UCP is ICC Publication 600, the 2007 revision.
Unfair Calling Insurance:
Insurance which protects the exporter against a bond which they have issued being called without good reason.
Uniform Rules for Collections. A code of practice for banks governing collections, drawn up the International Chamber of Commerce and observed by most trading nations.