Under the UCP,banks are responsible for the consequences of delay or loss in transit of any messages,credits,or documents,or for errors of any telecommunication.

Question

Quizplus · Accepted Answer

Under the Uniform Customs and Practice for Documentary Credits (UCP), banks are not responsible for the consequences of delay or loss in transit of any messages, credits, or documents, or for errors in translation or interpretation of technical terms.

Under the UCP,banks Are Responsible for the Consequences of Delay