UCP 600 Article 18: Commercial Invoice — Complete Interpretation Guide
Introduction
UCP 600 Article 18 (Commercial Invoice) is lettered 18(a), 18(b), 18(c). Banks compile a presentation against those limbs on the face of the documents. First limb: A commercial invoice: i. must appear to have been issued by the beneficiary (except as provided in article 38); ii. must be made out in the name of the applicant (except as provided in sub-article 38 (g)); iii. must be m
Failure Mode Analysis
Failure mode 1: Skipping the first limb
Operations compile against later limbs and never test 18(a). The first limb is not optional. A presentation that violates it is a binary reject.
Applying the article
Read the limbs above as they stand in the ICC text. Do not import sub-articles from another article. Document examination remains UCP 600 Article 14: on the face of the documents, within five banking days following the day of presentation.
Conclusion
Use the article as printed. If a lettered sub-article is not in the text above, it is not part of the rule.
FAQ
What is Article 18(a)?
A commercial invoice: i. must appear to have been issued by the beneficiary (except as provided in article 38); ii. must be made out in the name of the applicant (except as provided in sub-article 38 (g)); iii. must be made out in the same currency as the credit; and iv. need not be signed.
Are letters beyond c part of Article 18?
No. The ICC text letters Article 18 as (a), (b), (c) only.
Does a five-day waiver request extend examination?
No. Article 16(b) states that approaching the applicant for a waiver does not extend the period in Article 14(b).
Article 16(b) states that approaching the applicant for a waiver does not extend the period in Article 14(b).
| Regulation | Article / Section | Requirement | Consequence |
|---|---|---|---|
| UCP 600 | Article 18 | Commercial Invoice | Binary determination (compliant/discrepant) |
| UCP 600 | Article 38 | Transferable Credits | Binary determination (compliant/discrepant) |
| UCP 600 | Article 14 | Standard for Examination of Documents | Binary determination (compliant/discrepant) |
| UCP 600 | Article 16 | Discrepant Documents, Waiver and Notice | Binary determination (compliant/discrepant) |
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Quick Reference Summary
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