URR 725 - ICC Uniform Rules for Bank-to-Bank Reimbursements under Documentary Credits
ICC's Uniform Rules for Bank-to-Bank Reimbursements under Documentary Credits (URR) have revised. The revision ICC Publication No. 725, was necessary to bring these long-standing rules into conformity with UCP 600, ICC's universally used rules on letters of credit, wich came into effect on 1 July 2007. URR 725 contains a number of technical changes from the previous version, URR 525,and will be used by all letter of credit practitioners who elect to incorporate the revised URR into their letters or credit. This revision was approved by the Commission on Banking Technique an Practice on 15-16 April 2008.
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