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EUCP

• Q1 - What is the purpose of the eUCP?• The eUCP supplements the UCP to accommodate presentation of electronic records alone or in combination with paper documents.• Q2 - When should the eUCP be applied?• The eUCP shall apply where the credit indicates that it is subject to the eUCP.• Q3 - Which version of the eUCP should an eUCP credit indicate?• An eUCP credit must indicate the applicable version of the eUCP. If not indicated, it is subject to the latest version in effect on the date the eUCP credit is issued or, if made subject to the eUCP by an amendment accepted by the beneficiary, the date of that amendment.• Q4 - What is the latest version of the eUCP?• The latest version mentioned in the article is Version 2.1.Get help for CDCS

• Q5 -What information must an eUCP credit indicate about the issuing bank?• An eUCP credit must indicate the physical location of the issuing bank• Q6- What should nominated banks do if their physical location is not indicated in the eUCP credit?• If the physical location of any nominated bank and/or confirming bank is not indicated in the credit, such bank must indicate its physical location to the beneficiary no later than the time of advising or confirming the credit or, in the case of a credit available with any bank, and where another bank willing to act on the nomination to honour or negotiate is not the advising or confirming bank, at the time of agreeing to act on its nomination.Get help for CDCS

Article e2: Relationship of the eUCP to the UCP

• Q1 - What is the relationship of eUCP with UCP?• An eUCP credit is subject to the UCP without express incorporation of the UCP.• Q2 - When does the eUCP prevail over the UCP?• The provisions of eUCP shall prevail if they would produce a result different from the application of the UCP.• Q3 - Can the beneficiary choose between electronic records and paper documents in eUCP credit?• Yes, if an eUCP credit allows the beneficiary to choose between presentation of paper documents or electronic records.• Q4 - What happens if beneficiary only presents paper documents in eUCP credit?• The UCP alone shall apply if the beneficiary chooses to present only paper documents.Get help for CDCS

• Q5 - Does UCP apply to eUCP credit?• Yes, UCP applies to eUCP credit without express incorporation of the UCP.• Q6 - What is the scope of the UCP in relation to eUCP?• The UCP applies to eUCP credit, except when eUCP provisions produce a different result.Get help for CDCS

Article e3: Definitions

• Q1 - What is the meaning of "data corruption" in the eUCP?• "Data corruption" means any distortion or loss of data that renders the electronic record, as it was presented, unreadable in whole or in part.• Q2 - What is a "data processing system" in the eUCP?• "Data processing system" means a computerised or an electronic or any other automated means used to process and manipulate data, initiate an action or respond to data messages or performances in whole or in part.• Q3 - What is an "electronic record" in the eUCP?• "Electronic record", including an electronic transferable record, means data created, generated, sent, communicated, received or stored by electronic means, including, where appropriate, all information logically associated with or otherwise linked together so as to become part of the record, whether generated contemporaneously or not, that is capable of being authenticated as to the apparent identity of a sender and the apparent source of the data contained in it, and as to whether it has remained complete and unaltered and capable of being examined for compliance with the terms and conditions of the eUCP credit.Get help for CDCS

• Q4 - What is an "electronic signature" in the eUCP?• "Electronic signature" means a data process attached to or logically associated with an electronic record and executed or adopted by a person in order to identify that person and to indicate that person’s authentication of the electronic record.• Q5 - What does it mean when an electronic record is "received" under the eUCP?• "Received" means when an electronic record enters a data processing system, at the place for presentation indicated in the eUCP credit, in a format capable of being accepted by that system. Any acknowledgement of receipt generated by that system does not imply that the electronic record has been viewed, examined, accepted or refused under an eUCP credit.• Q6 - What does it mean to "re-present" or "re-presented" an electronic record in the eUCP?• "Re-present" or "re-presented" means to substitute or replace an electronic record already presented.Get help for CDCS

Article e6: Presentation

• Q1- Is it necessary for an eUCP credit to indicate a place for presentation of electronic records?• Yes, an eUCP credit must indicate a place for presentation of electronic records, according to article e6 (a) (i).• Q2 - What is the responsibility of the presenter when one or more electronic records are presented alone or in combination with paper documents?• The presenter is responsible for providing a notice of completeness to the nominated bank, confirming bank, if any, or to the issuing bank, where a presentation is made directly, as mentioned in article e6 (c) (i).• Q3 - Can electronic records be presented separately and not at the same time?• Yes, electronic records may be presented separately and need not be presented at the same time, as stated in article e6 (b).• Q4 - What happens if the presenter does not provide a notice of completeness?• Presentation is deemed not to have been made if the notice of completeness is not received, according to article e6 (c) (iii).Get help for CDCS

• Q5 - How should each presentation of an electronic record under an eUCP credit be identified?• Each presentation of an electronic record under an eUCP credit must identify the eUCP credit under which it is presented, as mentioned in article e6 (d) (i).• Q6 - What happens if an electronic record is not identified with the eUCP credit?• Any presentation of an electronic record not identified with the eUCP credit may be treated as not received, as per article e6 (d) (ii).• Q7 - What happens if the system of the bank to which presentation is to be made is unable to receive a transmitted electronic record on the stipulated date?• If the bank to which presentation is to be made is open but its system is unable to receive a transmitted electronic record on the stipulated expiry date and/or the last day for presentation, as the case may be, the bank will be deemed to be closed and the expiry date and/or last day for presentation shall be extended to the next banking day on which such bank is able to receive an electronic record, according to article e6 (e) (i).Get help for CDCS

• Q8 - What should the nominated bank do if the system is not able to receive a transmitted electronic record on the stipulated date?• The nominated bank must provide the confirming bank or issuing bank, if any, with a statement on its covering schedule that the presentation of electronic records was made within the time limits extended in accordance with sub-article e6 (e) (i), as per article e6 (e) (ii).• Q9 - Can an electronic record that cannot be authenticated be presented?• No, an electronic record that cannot be authenticated is deemed not to have been presented, according to article e6 (f).• Q10 - Is it necessary to provide a notice of completeness when a nominated bank forwards or makes available electronic records to a confirming bank or issuing bank?• No, when a nominated bank forwards or makes available electronic records to a confirming bank or issuing bank, a notice of completeness need not be sent, as per article e6 (c) (iv).Get help for CDCS

Article e7: Examination

• Q1 -When does the period for the examination of documents start according to the rules outlined in a(i)?• The period for the examination of documents commences on the banking day following the day on which the notice of completeness is received by the nominated bank, confirming bank, if any, or by the issuing bank, where a presentation is made directly.• Q2 - What happens to the start of the period for the examination of documents in case of an extension indicated in sub-article e6 (e)(i)?• If the time for presentation of documents or the notice of completeness is extended, as provided in sub-article e6 (e) (i), the time for the examination of documents commences on the next banking day following the day on which the bank to which presentation is to be made is able to receive the notice of completeness, at the place for presentation.• Q3 - What happens if an electronic record contains a hyperlink to an external system or a presentation indicates that the electronic record may be examined by reference to an external system?• The electronic record at the hyperlink or the external system shall be deemed to constitute an integral part of the electronic record to be examined.Get help for CDCS

• Q4 - When does the failure of the external system to provide access to the required electronic record at the time of examination constitute a discrepancy according to the rules outlined in b(ii)?• The failure of the external system to provide access to the required electronic record at the time of examination shall constitute a discrepancy, except as provided in sub-article e7 (d) (ii).• Q5 - Is the inability of a nominated bank acting on its nomination, a confirming bank, if any, or the issuing bank, to examine an electronic record in a format required by an eUCP credit or, if no format is required, to examine it in the format presented a basis for refusal?• The inability of a nominated bank acting on its nomination, a confirming bank, if any, or the issuing bank, to examine an electronic record in a format required by an eUCP credit or, if no format is required, to examine it in the format presented is not a basis for refusal.• Q6 - What is signified by the forwarding of electronic records by a nominated bank, whether or not it is acting on its nomination to honour or negotiate, according to the rules outlined in d(i)?• The forwarding of electronic records by a nominated bank, whether or not it is acting on its nomination to honour or negotiate, signifies that it has satisfied itself as to the apparent authenticity of the electronic records.Get help for CDCS

• Q7 - What must happen if a nominated bank determines that a presentation is complying and forwards or makes available those electronic records to the confirming bank or issuing bank, whether or not the nominated bank has honoured or negotiated?• In the event that a nominated bank determines that a presentation is complying and forwards or makes available those electronic records to the confirming bank or issuing bank, whether or not the nominated bank has honoured or negotiated, an issuing bank or confirming bank must honour or negotiate, or reimburse that nominated bank, even when a specified hyperlink or external system does not allow the issuing bank or confirming bank to examine one or more electronic records that have been made available between the nominated bank and the issuing bank or confirming bank, or between the confirming bank and the issuing bank.• Q8 - What is the consequence of a nominated bank determining that a presentation is not complying?• If a nominated bank determines that a presentation is not complying, it may refuse to honour or negotiate, must inform the presenter without delay of the refusal and the reasons for the refusal, and must return the documents to the presenter.• Q9 - What must an issuing bank do if it determines that a presentation is not complying?• If an issuing bank determines that a presentation is not complying, it must, inform the nominated bank that advised the presentation without delay of the refusal and the reasons for the refusal, and must either provide notice thereof to the presenter or return the documents to the presenter.Get help for CDCS

Article e8: Notice of refusal

• Q1 - Who can provide a notice of refusal when a presentation includes electronic records?• A nominated bank acting on its nomination, a confirming bank, if any, or the issuing bank can provide a notice of refusal.• Q2 - Is there a time limit for the party to give instructions for the disposition of the electronic records?• Yes, the party must give instructions within 30 calendar days from the date the notice of refusal is given.• Q3 - What happens if a nominated bank refuses to accept a presentation that includes electronic records and doesn't receive any instructions from the party within 30 calendar days?• The bank will return any paper documents not previously returned to the party, but may dispose of the electronic records in any manner deemed appropriate without any responsibility.• Q4 - Can the bank dispose of the paper documents in any manner deemed appropriate if the party doesn't give any instructions within 30 calendar days from the date the notice of refusal is given?• No, the bank can only dispose of the electronic records in any manner deemed appropriate without any responsibility.Get help for CDCS

Article e10: Date of issuance

• Q1- When can a bank request an electronic record to be re-presented?• A bank can request an electronic record to be re-presented if it appears to have been affected by data corruption.• Q2 - What happens to the time of examination when a bank requests for an electronic record to be re-presented?• The time for examination is suspended and resumes when the electronic record is re-presented.• Q3 - Is a nominated bank required to inform the confirming bank and the issuing bank when it requests an electronic record to be re-presented?• If the nominated bank is not a confirming bank, it must provide any confirming bank and the issuing bank with notice of the request for the electronic record to be re-presented and inform it of the suspensionGet help for CDCS

• Q4 - How long does a bank have to wait for an electronic record to be re-presented before treating it as not presented?• If the same electronic record is not re-presented within 30 calendar days, or on or before the expiry date and/or last day for presentation, whichever occurs first, the bank may treat the electronic record as not presented.• Q5 - What liability does a bank assume for an electronic record if it satisfies itself as to the apparent authenticity of the record?• By satisfying itself as to the apparent authenticity of an electronic record, a bank assumes no liability for the identity of the sender, source of the information, or its complete and unaltered character other than that which is apparent in the electronic record received by the use of a data processing system.• Q6 - Does a bank assume any liability or responsibility for the consequences arising out of the unavailability of a data processing system other than its own?• No, a bank assumes no liability or responsibility for the consequences arising out of the unavailability of a data processing system other than its own.Get help for CDCS

• Q7 - Is a bank liable or responsible for the consequences arising out of the interruption of its business caused by Acts of God, riots, civil commotions, insurrections, wars, acts of terrorism, cyberattacks, or by any strikes or lockouts or any other causes beyond its control?• No, a bank assumes no liability or responsibility for the consequences arising out of the interruption of its business caused by Acts of God, riots, civil commotions, insurrections, wars, acts of terrorism, cyberattacks, or by any strikes or lockouts or any other causes beyond its control.• Q8 - Can a bank be held liable for the consequences arising out of a data corruption to an electronic record?• It depends on the circumstances. If the bank had requested for the electronic record to be re-presented and the same was not done within the stipulated time, the bank may treat the electronic record as not presented and avoid liability.• Q9 - What is the scope of liability assumed by a bank for an electronic record's identity of the sender, source of the information, or its complete and unaltered character?• A bank assumes no liability for the identity of the sender, source of the information, or its complete and unaltered character other than that which is apparent in the electronic record received by the use of a data processing system for the receipt, authentication, and identification of electronic records.Get help for CDCS

• Q10 - What do you understand by 'force majeure' under Article e14?• Under Article e14, 'force majeure' refers to any event that interrupts the business of the bank, including but not limited to its inability to access a data processing system, or a failure of equipment, software or communications network, caused by Acts of God, riots, civil commotions, insurrections, wars, acts of terrorism, cyberattacks, or by any strikes or lockouts or any other causes, including failure of equipment, software or communications networks beyond its control.Get help for CDCS