Pallets of white and green plastic pressure pipe, strapped and wrapped in clear film, on a wet container terminal apron in front of an open 40 ft shipping container, with quay cranes and a container ship in the distance

Paying for Your First Pipe Container by L/C: The Document Set That Decides Whether the Bank Pays

Knowledge / By

A bank paying under a letter of credit never sees your pipe. Under UCP 600 (the 2007 revision, ICC Publication No. 600), the ICC rules that govern a credit stating it is subject to them, banks deal with documents and not with goods, and each examining bank has a maximum of five banking days following

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