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#719334 - 04/20/07 03:17 PM UCP 500 vs UCC 5
4newt Offline
Gold Star
Joined: Nov 2003
Posts: 277
East Texas
What is the difference between UCP 500 & UCC 5 for letter of credits? Is there a specifice type of LOC that is governed by one or the other, or is it just a matter of preference as to which one you follow?

Thanks for your help.
JNewton

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Lending Compliance
#719388 - 04/20/07 03:56 PM Re: UCP 500 vs UCC 5 4newt
4newt Offline
Gold Star
Joined: Nov 2003
Posts: 277
East Texas
Nevermind, I found my answer. UCP is for international commercial letters of credit. The UCC is for domestic LOC's.

Thanks anyway.

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