One Way eUCP’s Aim to Facilitate Electronic Presentation Can Be Advanced

The Query addressed in ICC Opinion TA.900 (April 2020) involved electronic presentation (e-presentation). With technological development and advancement of electronically-produced documents including SWIFT messages, there are more frequent calls for e- presentation. Trade transactions can be done in paperless fashion on digital platforms by using digitized documents including eB/L. SWIFT is also exploring ways to connect platforms for advancing paperless trade. To advance the digitalization transition of the trade finance industry, ICC has endeavored to drive practice use of eRules that are focused on e-presentation of documents however “the eUCP has largely remained of theoretical value”.[[1]] Chinese banks have greatly advanced digitalization of LC transactions by using digital platforms, such as Bolero and essDOCs, but e-presentation under LCs needs to be developed and the eUCP has not received significant usage in China. As such, greater use of the eUCP should be motivated to enable and facilitate e-presentation. Due to the issues related to the electronic mode of presentation being complex, they deserve careful discussion.