Muhammad Ali Haider Khan is manager of trade operations and governance for overseas banking at Habib Bank Limited based in Pakistan. He has over a decade of experience in the field of trade finance.
CPBLs, governed by UCP600 Article 22 and addressed in several ISBP821 paragraphs, are required under credits for certain types of shipments. It is important to appreciate the operational aspects, risks, and risk mitigation techniques of CPBLs.
The maturation of UCP has included attempts to address incorrect practice regarding expiry date and presentation period of a credit. Is it time for UCP600 Article 6(d)(i) to be revisited?
