Jurisdiction(s):
United Kingdom

Key definition

ICC definition

What does ICC mean? In legal practice, ICC usually refers to the International Chamber of Commerce, a global business organisation whose rules, standards and dispute resolution services are widely used in cross‑border transactions. It is not defined in legislation; its instruments take effect by contractual incorporation or by parties selecting ICC procedures. Key features include ICC arbitration administered by the ICC International Court of Arbitration under the ICC Rules, with the seat chosen by the parties (including in England and Wales, Scotland, Northern Ireland or Ireland) and awards generally enforceable under the New York Convention. The ICC also publishes Incoterms (currently Incoterms 2020) for international...

ICC UCP 600 (including eUCP) and ISBP for commercial letters of credit: incorporation, key principles, document examination, transfers, and judicial interpretation

Published by a LexisNexis Banking & Finance expert

Practice notes

The International Chamber of Commerce (ICC) has created widely used Rules and guidance to govern letters of credit and related practice. The principal publications for commercial letters of credit are:

the Uniform Customs and Practice (UCP) for Documentary Credits, which incorporates the Supplement to UCP for Electronic Presentation (the eUCP)
the International Standard Banking Practice for the Examination of Documents under Documentary Credits

These works set out the general framework for documentary credits.

For more information on commercial letters of credit in general, please see Practice Notes:

Characteristics of commercial letters of credit
Types of commercial letters of credit
Commercial letters of credit—structure and parties

The nature of the Uniform Customs and Practice for Documentary Credits

The UCP comprises standard terms and conditions that parties may choose to incorporate into a Letter of Credit, by agreement between the parties concerned. Although it lacks the force of law, it is recognised internationally.

Incorporating the UCP into a letter of credit

UCP provisions are not incorporated into a letter of credit automatically. They only apply where they are expressly included; otherwise, they will not operate. The great majority of commercial letters of credit adopt the UCP...

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Web page updated on 21/05/2026

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