This abbreviation stands for the Uniform Customs and Practice for documentary credits, published by the International Chamber of Commerce. This is the most frequently used standard for making payments in international trade; e.g., paying on a Letter of Credit. It is most frequently referred to by its shorthand title: UCP No. 500. A revised publication reflecting recent changes in the transportation and banking industries, such as electronic transfer of funds.

Get in touch with Global Freight Connections Limited for more information.