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Letters of Credit
Users Guide to the eUCPPub. No. KS100E | Language EN
The DOCDEX system is a rapid and cost-effective means of resolving letter of credit disputes through an expert decision. Cases are decided by a panel of three impartial experts having experience in, and knowledge of, trade finance transactions. Said experts are selected from a list maintained by the ICC Banking Commission. The experts' decision is further scrutinized by the Technical Adviser to the ICC Banking Commission to ensure that it conforms to applicable ICC Banking Rules and/or international standard practice in trade finance. Covering cases from 2013-2016, this is the fourth volume in the series of DOCDEX Decisions. It includes 30 Decisions providing valuable insights into the reasoning behind the experts’ final judgments on the disputes in question. A significant development that has been introduced in this collection is the inclusion of an abstract for all decisions. This approach allows for an encapsulation of key information and summarises each conclusion. Two important indices are also available: Cross-reference of each DOCDEX decision against the relevant ICC rules, which have been divided into articles and sub-articles of UCP, URR, URC, URDG and paragraphs of ISBP. Cross-reference to keywords in both the abstracted and full versions of the decisions. Various versions of ICC rules have been covered: UCP 500/600, URC 522, URR 725, URDG 458/758 and ISBP 681/745. The majority of decisions have application to UCP (16), one of which applies to UCP 500. An analysis of the UCP articles that have attracted the most queries reveals that issues surrounding discrepant documents predominate, followed closely by the standard for examination of documents. It is clear that it is in this area that a lack of knowledge of key procedures can cause problems. The e-pub includes a copy of: the DOCDEX Rules, Uniform Customs and Practice for Documentary Credits (UCP 600) and International Standard Banking Practice for the Examination of Documents (ISBP) The collection of DOCDEX Decisions complement the ICC Banking Commission Opinions. Together, they are indispensable aids to practitioners seeking to understand how ICC rules are applied in daily practice.