Sullivan
Microsoft has discontinued support for Internet Explorer. To access the Sullivan website, please install a modern browser like Microsoft Edge or Google Chrome.

Geoffrey Wynne was quoted in the article "RELEASED: eUCP Version 2.1, Aligning with MLETR," published in Trade Finance Global on July 3, 2023.

The article discusses how the International Chamber of Commerce (ICC) has unveiled eUCP Version 2.1, an alignment of the Uniform Customs and Practice for Documentary Credits for Electronic Presentation (eUCP) with the UNCITRAL Model Law on Electronic Transferable Records (MLETR).

Amongst other elements the article looks at the background to documentary credits, also known as Letters of Credit, which are essential finance instruments used in international trade and trade finance, provides a brief history of UCP, looks at the eUCP rules, the key changes that version 2.1 provide as well as MLETR compatibility.

“It is good to see the ICC moving forward with helping to develop the use of eUCP given the ICC’s significant support of other digital initiatives like URDTT (Uniform Rules for Digital Trade Transactions) with which I was closely involved,” Geoff says, “let’s hope this sees greater adoption of eUCP with the hoped-for passing of the Electronic Trade Documents Act in the UK and MLETR adoption elsewhere.”