The Origins of the UCP revision
By Gary Collyer
At the time of writing this article, ICC National Committees are meeting, or are planning to meet, to discuss the content of the latest draft of the UCP 600 distributed by the UCP Drafting Group on 13 June. The outcome of the comments received to this draft will undoubtedly shape the way the final version will look. The intention is that the final draft will be issued towards the end of August or beginning of September 2006. ICC National Committees will then be requested to indicate a ‘yes’ or ‘no’ vote at the ICC Banking Commission meeting to be held on October 24/25, 2006 solely based on the content of that draft.
By the time the UCP 600 is approved the revision process, totalling just over three years, will have been one of the most exhaustive in the history of UCP.
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