UCP600的中英文版编辑

,~ICCUNIFORMCUSTOMSANDPRACTICEFORDOCUMENTARYCREDITSUCP600英文HYPERLINK\l"_UCP600中文版UCP600"中文TOC\o"1-3"\h\zHYPERLINK\l"_Toc156374933"FOREWORDPAGEREF_Toc156374933\h2HYPERLINK\l"_Toc156374934"INTRODUCTIONPAGEREF_Toc156374934\h4HYPERLINK\l"_Toc156374935"Article1ApplicationofUCPPAGEREF_Toc156374935\h10HYPERLINK\l"_Toc156374936"Article2DefinitionsPAGEREF_Toc156374936\h11HYPERLINK\l"_Toc156374937"Article3InterpretationsPAGEREF_Toc156374937\h13HYPERLINK\l"_Toc156374938"Article4Creditsv.ContractsPAGEREF_Toc156374938\h14HYPERLINK\l"_Toc156374939"Article5Documentsv.Goods,ServicesorPerformancePAGEREF_Toc156374939\h15HYPERLINK\l"_Toc156374940"Article6Availability,ExpiryDateandPlaceforPresentationPAGEREF_Toc156374940\h15HYPERLINK\l"_Toc156374941"Article7IssuingBankUndertakingPAGEREF_Toc156374941\h16HYPERLINK\l"_Toc156374942"Article8ConfirmingBankUndertakingPAGEREF_Toc156374942\h17HYPERLINK\l"_Toc156374943"Article9AdvisingofCreditsandAmendmentsPAGEREF_Toc156374943\h19HYPERLINK\l"_Toc156374944"Article10AmendmentsPAGEREF_Toc156374944\h20HYPERLINK\l"_Toc156374945"Article11TeletransmittedandPre-AdvisedCreditsandAmendmentsPAGEREF_Toc156374945\h22HYPERLINK\l"_Toc156374946"Article12NominationPAGEREF_Toc156374946\h22HYPERLINK\l"_Toc156374947"Article13Bank-to-BankReimbursementArrangementsPAGEREF_Toc156374947\h23HYPERLINK\l"_Toc156374948"Article14StandardforExaminationofDocumentsPAGEREF_Toc156374948\h24HYPERLINK\l"_Toc156374949"Article15ComplyingPresentationPAGEREF_Toc156374949\h27HYPERLINK\l"_Toc156374950"Article16DiscrepantDocuments,WaiverandNoticePAGEREF_Toc156374950\h27HYPERLINK\l"_Toc156374951"Article17OriginalDocumentsandCopiesPAGEREF_Toc156374951\h29HYPERLINK\l"_Toc156374952"Article18CommercialInvoicePAGEREF_Toc156374952\h30HYPERLINK\l"_Toc156374953"Article19TransportDocumentCoveringatLeastTwoDifferentModesofTransportPAGEREF_Toc156374953\h31HYPERLINK\l"_Toc156374954"Article20BillofLadingPAGEREF_Toc156374954\h33HYPERLINK\l"_Toc156374955"Article21Non-NegotiableSeaWaybillPAGEREF_Toc156374955\h36HYPERLINK\l"_Toc156374956"Article22CharterPartyBillofLadingPAGEREF_Toc156374956\h38HYPERLINK\l"_Toc156374957"Article23AirTransportDocumentPAGEREF_Toc156374957\h40HYPERLINK\l"_Toc156374958"Article24Road,RailorInlandWaterwayTransportDocumentsPAGEREF_Toc156374958\h41HYPERLINK\l"_Toc156374959"Article25CourierReceipt,PostReceiptorCertificateofPostingPAGEREF_Toc156374959\h44HYPERLINK\l"_Toc156374960"Article26"OnDeck","Shipper'sLoadandCount",“SaidbyShippertoContain”andChargesAdditionaltoFreightPAGEREF_Toc156374960\h44HYPERLINK\l"_Toc156374961"Article27CleanTransportDocumentPAGEREF_Toc156374961\h45HYPERLINK\l"_Toc156374962"Article28InsuranceDocumentandCoveragePAGEREF_Toc156374962\h45HYPERLINK\l"_Toc156374963"Article29ExtensionofExpiryDateorLastDayforPresentationPAGEREF_Toc156374963\h47HYPERLINK\l"_Toc156374964"Article30ToleranceinCreditAmount,QuantityandUnitPricesPAGEREF_Toc156374964\h48HYPERLINK\l"_Toc156374965"Article31PartialDrawingsorShipmentsPAGEREF_Toc156374965\h49HYPERLINK\l"_Toc156374966"Article32InstalmentDrawingsorShipmentsPAGEREF_Toc156374966\h50HYPERLINK\l"_Toc156374967"Article33HoursofPresentationPAGEREF_Toc156374967\h50HYPERLINK\l"_Toc156374968"Article34DisclaimeronEffectivenessofDocumentsPAGEREF_Toc156374968\h50HYPERLINK\l"_Toc156374969"Article35DisclaimeronTransmissionandTranslationPAGEREF_Toc156374969\h51HYPERLINK\l"_Toc156374970"Article36ForceMajeurePAGEREF_Toc156374970\h52HYPERLINK\l"_Toc156374971"Article37DisclaimerforActsofanInstructedPartyPAGEREF_Toc156374971\h52HYPERLINK\l"_Toc156374972"Article38TransferableCreditsPAGEREF_Toc156374972\h53HYPERLINK\l"_Toc156374973"Article39AssignmentofProceedsPAGEREF_Toc156374973\h56UCP600中文版UCP600HYPERLINK\l"_Toc156374974"第一条UCP的适用范围PAGEREF_Toc156374974\h59HYPERLINK\l"_Toc156374975"第二条定义PAGEREF_Toc156374975\h59HYPERLINK\l"_Toc156374976"第三条解释PAGEREF_Toc156374976\h60HYPERLINK\l"_Toc156374977"第四条信用证与PAGEREF_Toc156374977\h61HYPERLINK\l"_Toc156374978"第五条单据与货物、服务或履约行为PAGEREF_Toc156374978\h61HYPERLINK\l"_Toc156374979"第六条兑用方式、截止日和交单地点PAGEREF_Toc156374979\h61HYPERLINK\l"_Toc156374980"第七条开证行责任PAGEREF_Toc156374980\h62HYPERLINK\l"_Toc156374981"第八条保兑行责任PAGEREF_Toc156374981\h62HYPERLINK\l"_Toc156374982"第九条信用证及其修改的通知PAGEREF_Toc156374982\h63HYPERLINK\l"_Toc156374983"第十条修改PAGEREF_Toc156374983\h63HYPERLINK\l"_Toc156374984"第十一条电讯传输的和预先通知的信用证和修改PAGEREF_Toc156374984\h64HYPERLINK\l"_Toc156374985"第十二条指定PAGEREF_Toc156374985\h64HYPERLINK\l"_Toc156374986"第十三条银行之间的偿付安排PAGEREF_Toc156374986\h64HYPERLINK\l"_Toc156374987"第十四条单据审核标准PAGEREF_Toc156374987\h64HYPERLINK\l"_Toc156374988"第十五条相符交单PAGEREF_Toc156374988\h65HYPERLINK\l"_Toc156374989"第十六条不符单据、放弃及通知PAGEREF_Toc156374989\h66HYPERLINK\l"_Toc156374990"第十七条正本单据及副本PAGEREF_Toc156374990\h66HYPERLINK\l"_Toc156374991"第十八条商业发票PAGEREF_Toc156374991\h67HYPERLINK\l"_Toc156374992"第十九条涵盖至少两种不同运输方式的运输单据PAGEREF_Toc156374992\h67HYPERLINK\l"_Toc156374993"第二十条提单PAGEREF_Toc156374993\h68HYPERLINK\l"_Toc156374994"第二十一条不可转让的海运单PAGEREF_Toc156374994\h69HYPERLINK\l"_Toc156374995"第二十二条租船合同提单PAGEREF_Toc156374995\h70HYPERLINK\l"_Toc156374996"第二十三条空运单据PAGEREF_Toc156374996\h70HYPERLINK\l"_Toc156374997"第二十四条公路、铁路或内陆水运单据PAGEREF_Toc156374997\h71HYPERLINK\l"_Toc156374998"第二十五条快递收据、邮政收据或投邮证明PAGEREF_Toc156374998\h72HYPERLINK\l"_Toc156374999"第二十六条“货装舱面”、“托运人装载和计数”、“内容据托运人报称”及运费之外的费用。PAGEREF_Toc156374999\h72HYPERLINK\l"_Toc156375000"第二十七条清洁运输单据PAGEREF_Toc156375000\h72HYPERLINK\l"_Toc156375001"第二十八条保险单据及保险范围PAGEREF_Toc156375001\h72HYPERLINK\l"_Toc156375002"第二十九条截止日或最迟交单日的顺延PAGEREF_Toc156375002\h73HYPERLINK\l"_Toc156375003"第三十条信用证金额、数量与单价的伸缩度PAGEREF_Toc156375003\h73HYPERLINK\l"_Toc156375004"第三十一条部分支款或部分发运PAGEREF_Toc156375004\h73HYPERLINK\l"_Toc156375005"第三十二条分期支款或分期发运PAGEREF_Toc156375005\h74HYPERLINK\l"_Toc156375006"第三十三条交单时间PAGEREF_Toc156375006\h74HYPERLINK\l"_Toc156375007"第三十四条关于单据有效性的免责PAGEREF_Toc156375007\h74HYPERLINK\l"_Toc156375008"第三十五条关于信息传递和翻译的免责PAGEREF_Toc156375008\h74HYPERLINK\l"_Toc156375009"第三十六条不可抗力PAGEREF_Toc156375009\h74HYPERLINK\l"_Toc156375010"第三十七条关于被指示方行为的免责PAGEREF_Toc156375010\h75HYPERLINK\l"_Toc156375011"第三十八条可转让信用证PAGEREF_Toc156375011\h75HYPERLINK\l"_Toc156375012"第三十九条款项让渡PAGEREF_Toc156375012\h76FOREWORDThisrevisionoftheUniformCustomsandPracticeforDocumentaryCredits(commonlycalled“UCP”)isthesixthrevisionoftherulessincetheywerefirstpromulgatedin1933.ItisthefruitofmorethanthreeyearsofworkbytheInternationalChamberofCommerce’s(ICC)CommissiononBankingTechniqueandPractice.ICC,whichwasestablishedin1919,hadasitsprimaryobjectivefacilitatingtheflowofinternationaltradeatatimewhennationalismandprotectionismposedseriousthreatstotheworldtradingsystem.ItwasinthatspiritthattheUCPwerefirstintroduced–toalleviatetheconfusioncausedbyindividualcountries’promotingtheirownnationalrulesonletterofcreditpractice.Theobjective,sinceattained,wastocreateasetofcontractualrulesthatwouldestablishuniformityinthatpractice,sothatpractitionerswouldnothavetocopewithaplethoraofoftenconflictingnationalregulations.TheuniversalacceptanceoftheUCPbypractitionersincountrieswithwidelydivergenteconomicandjudicialsystemsisatestamenttotherules’success.ItisimportanttorecallthattheUCPrepresenttheworkofaprivateinternationalorganization,notagovernmentalbody.Sinceitsinception,ICChasinsistedonthecentralroleofself-regulationinbusinesspractice.Theserules,formulatedentirelybyexpertsintheprivatesector,havevalidatedthatapproach.TheUCPremainthemostsuccessfulsetofprivaterulesfortradeeverdeveloped.Arangeofindividualsandgroupscontributedtothecurrentrevision,whichisentitledUCP600.TheseincludetheUCPDraftingGroup,whichsiftedthroughmorethan5000individualcommentsbeforearrivingatthisconsensustext;theUCPConsultingGroup,consistingofmembersfrommorethan25countries,whichservedastheadvisorybodyreactingtoandproposingchangestothevariousdrafts;themorethan400membersoftheICCCommissiononBankingTechniqueandPracticewhomadeertinentsuggestionsforchangesinthetext;andICCnationalcommitteesworldwidewhichtookanactiveroleinconsolidatingcommentsfromtheirmembers.ICCalsoexpressesitsgratitudetopractitionersinthetransportandInsuranceindustries,whoseperceptivesuggestionshonedthefinaldraft.GuySebbanSecretaryGeneralInternationalChamberofCommerceINTRODUCTIONInMay2003,theInternationalChamberofCommerceauthorizedtheICCCommissiononBankingTechniqueandPractice(BankingCommission)tobeginarevisionoftheUniformCustomsandPracticeforDocumentaryCredits,ICCPublication500.Aswithotherrevisions,thegeneralobjectivewastoaddressdevelopmentsinthebanking,transportandinsuranceindustries.Additionally,therewasaneedtolookatthelanguageandstyleusedintheUCPtoremovewordingthatcouldleadtoinconsistentapplicationandinterpretation.Whenworkontherevisionstarted,anumberofglobalsurveysindicatedthat,becauseofdiscrepancies,approximately70%ofdocumentspresentedunderlettersofcreditwerebeingrejectedonfirstpresentation.Thisobviouslyhad,andcontinuestohave,anegativeeffectontheletterofcreditbeingseenasameansofpaymentand,ifunchecked,couldhaveseriousimplicationsformaintainingorincreasingitsmarketshareasarecognizedmeansofsettlementininternationaltrade.Theintroductionbybanksofadiscrepancyfeehashighlightedtheimportanceofthisissue,especiallywhentheunderlyingdiscrepancieshavebeenfoundtobedubiousorunsound.WhilstthenumberofcasesinvolvinglitigationhasnotgrownduringthelifetimeofUCP500,theintroductionoftheICC’sDocumentaryCreditDisputeResolutionExpertiseRules(DOCDEX)inOctober1997(subsequentlyrevisedinMarch2002)hasresultedinmorethan60casesbeingdecided.Toaddresstheseandotherconcerns,theBankingCommissionestablishedaDraftingGrouptoreviseUCP500.Itwasalsodecidedtocreateasecondgroup,knownastheConsultingGroup,toreviewandadviseonearlydraftssubmittedbytheDraftingGroup.TheConsultingGroup,madeupofover40individualsfrom26countries,consistedofbankingandtransportindustryexperts.Ablyco-chairedbyJohnTurnbull,DeputyGeneralManager,SumitomoMitsuiBankingCorporationEuropeLtd,LondonandCarloDiNinni,Adviser,ItalianBankersAssociation,Rome,theConsultingGroupprovidedvaluableinputtotheDraftingGrouppriortoreleaseofdrafttextstoICCnationalcommittees.TheDraftingGroupbeganthereviewprocessbyanalyzingthecontentoftheofficialOpinionsissuedbytheBankingCommissionunderUCP500.Some500Opinionswerereviewedtoassesswhethertheissuesinvolvedwarrantedachangein,anadditiontooradeletionofanyUCParticle.Inaddition,considerationwasgiventothecontentofthefourPositionPapersissuedbytheCommissioninSeptember1994,thetwoDecisionsissuedbytheCommission(concerningtheintroductionoftheeuroandthedeterminationofwhatconstitutedanoriginaldocumentunderUCP500sub-article20(b)andthedecisionsissuedinDOCDEXcases.Duringtherevisionprocess,noticewastakenoftheconsiderableworkthathadbeencompletedincreatingtheInternationalStandardBankingPracticefortheExaminationofDocumentsunderDocumentaryCredits(ISBP),ICCPublication645.ThispublicationhasevolvedintoanecessarycompaniontotheUCPfordeterminingcomplianceofdocumentswiththetermsoflettersofcredit.ItistheexpectationoftheDraftingGroupandtheBankingCommissionthattheapplicationoftheprinciplescontainedintheISBP,includingsubsequentrevisionsthereof,willcontinueduringthetimeUCP600isinforce.AtthetimeUCP600isimplemented,therewillbeanupdatedversionoftheISBPtobringitscontentsinlinewiththesubstanceandstyleofthenewrules.ThefourPositionPapersissuedinSeptember1994wereissuedsubjecttotheirapplicationunderUCP500;therefore,theywillnotbeapplicableunderUCP600.TheessenceoftheDecisioncoveringthedeterminationofanoriginaldocumenthasbeenincorporatedintothetextofUCP600.TheoutcomeoftheDOCDEXcaseswereinvariablybasedonexistingICCBankingCommissionOpinionsandthereforecontainednospecificissuesthatrequiredaddressingintheserules.OneofthestructuralchangestotheUCPistheintroductionofarticlescoveringdefinitions(article2)andinterpretations(article3).Inprovidingdefinitionsofrolesplayedbybanksandthemeaningofspecifictermsandevents,UCP600avoidsthenecessityofrepetitivetexttoexplaintheirinterpretationandapplication.Similarly,thearticlecoveringinterpretationsaimstotaketheambiguityoutofvagueorunclearlanguagethatappearsinlettersofcreditandtoprovideadefinitiveelucidationofothercharacteristicsoftheUCPorthecredit.Duringthecourseofthelastthreeyears,ICCnationalcommitteeswerecanvassedonarangeofissuestodeterminetheirpreferencesonalternativetextssubmittedbytheDraftingGroup.TheresultsofthisexerciseandtheconsiderableinputfromnationalcommitteesonindividualitemsinthetextisreflectedinthecontentofUCP600.TheDraftingGroupconsidered,notonlythecurrentpracticerelativetothedocumentarycredit,butalsotriedtoenvisagethefutureevolutionofthatpractice.ThisrevisionoftheUCPrepresentstheculminationofoverthreeyearsofextensiveanalysis,review,debateandcompromiseamongstthevariousmembersoftheDraftingGroup,themembersoftheBankingCommissionandtherespectiveICCnationalcommittees.ValuablecommenthasalsobeenreceivedfromtheICCCommissiononTransportandLogistics,theCommissiononCommercialLawandPracticeandtheCommitteeonInsurance.Itisnotappropriateforthispublicationtoprovideanexplanationastowhyanarticlehasbeenwordedinsuchawayorwhatisintendedbyitsincorporationintotherules.ForthoseinterestedinunderstandingtherationaleandinterpretationofthearticlesofUCP600,thisinformationwillbefoundintheCommentarytotherules,ICCPublication601,whichrepresentstheDraftingGroup’sviews.OnbehalfoftheDraftingGroupIwouldliketoextendourdeepappreciationtothemembersoftheConsultingGroup,ICCnationalcommitteesandmembersoftheBankingCommissionfortheirprofessionalcommentsandtheirconstructiveparticipationinthisprocess.SpecialthanksareduetothemembersoftheDraftingGroupandtheirinstitutions,whoarelistedbelowinalphabeticalorder.NicoleKeller–VicePresident,ServiceInternationalProducts,DresdnerBankAG,Frankfurt,Germany;RepresentativetotheICCCommissiononBankingTechniqueandPractice;LaurenceKooy–LegalAdviser,BNPParibas,Paris,France;RepresentativetotheICCCommissiononBankingTechniqueandPractice.KatjaLehr–BusinessManager,TradeServicesStandards,SWIFT,LaHulpe,Belgium,thenVicePresident,MembershipRepresentation,InternationalFinancialServicesAssociation,NewJersey,USA;RepresentativetotheICCCommissiononBankingTechniqueandPractice;OleMalmqvist–VicePresident,DanskeBank,Copenhagen,Denmark;RepresentativetotheICCCommissiononBankingTechniqueandPractice;PaulMiserez–HeadofTradeFinanceStandards,SWIFT,LaHulpe,Belgium;RepresentativetotheICCCommissiononBankingTechniqueandPractice;RenéMueller–Director,CreditSuisse,Zurich,Switzerland;RepresentativetotheICCCommissiononBankingTechniqueandPractice;CheeSengSoh–Consultant,AssociationofBanksinSingapore,Singapore;RepresentativetotheICCCommissiononBankingTechniqueandPractice;DanTaylor–PresidentandCEO,InternationalFinancialServicesAssociation.,NewJerseyUSA;ViceChairman,ICCCommissiononBankingTechniqueandPractice;AlexanderZelenov–Director,Vnesheconombank,Moscow,Russia;ViceChairman,ICCCommissiononBankingTechniqueandPractice;RonKatz–PolicyManager,ICCCommissiononBankingTechniqueandPractice,InternationalChamberofCommerce,Paris,France.TheundersignedhadthepleasureofchairingtheDraftingGroup.Itwasthroughthegenerousgivingoftheirknowledge,timeandenergythatthisrevisionwasaccomplishedsosuccessfully.AsChairoftheDraftingGroup,Iwouldliketoextendtothemandtotheirinstitutionsmygratitudefortheircontribution,forajobwelldoneandfortheirfriendship.IwouldalsoliketoextendmysincerethankstothemanagementofABNAMROBankN.V.,fortheirunderstanding,patienceandsupportduringthecourseofthisrevisionprocess.GaryCollyerCorporateDirector,ABNAMROBankN.V.,London,EnglandandTechnicalAdvisertotheICCCommissiononBankingTechniqueandPracticeNovember2006Article1ApplicationofUCPTheUniformCustomsandPracticeforDocumentaryCredits,2007Revision,ICCPublicationno.600(“UCP”)arerulesthatapplytoanydocumentarycredit(“credit”)(including,totheextenttowhichtheymaybeapplicable,anystandbyletterofcredit)whenthetextofthecreditexpresslyindicatesthatitissubjecttotheserules.Theyarebindingonallpartiestheretounlessexpresslymodifiedorexcludedbythecredit.Article2DefinitionsForthepurposeoftheserules:Advisingbankmeansthebankthatadvisesthecreditattherequestoftheissuingbank.Applicantmeansthepartyonwhoserequestthecreditisissued.Bankingdaymeansadayonwhichabankisregularlyopenattheplaceatwhichanactsubjecttotheserulesistobeperformed.Beneficiarymeansthepartyinwhosefavouracreditisissued.Complyingpresentationmeansapresentationthatisinaccordancewiththetermsandconditionsofthecredit,theapplicableprovisionsoftheserulesandinternationalstandardbankingpractice.Confirmationmeansadefiniteundertakingoftheconfirmingbank,inadditiontothatoftheissuingbank,tohonourornegotiateacomplyingpresentation.Confirmingbankmeansthebankthataddsitsconfirmationtoacreditupontheissuingbank’sauthorizationorrequest.Creditmeansanyarrangement,howevernamedordescribed,thatisirrevocableandtherebyconstitutesadefiniteundertakingoftheissuingbanktohonouracomplyingpresentation.Honourmeans:a.topayatsightifthecreditisavailablebysightpayment.b.toincuradeferredpaymentundertakingandpayatmaturityifthecreditisavailablebydeferredpayment.c.toacceptabillofexchange(“draft”)drawnbythebeneficiaryandpayatmaturityifthecreditisavailablebyacceptance.Issuingbankmeansthebankthatissuesacreditattherequestofanapplicantoronitsownbehalf.Negotiationmeansthepurchasebythenominatedbankofdrafts(drawnonabankotherthanthenominatedbank)and/ordocumentsunderacomplyingpresentation,byadvancingoragreeingtoadvancefundstothebeneficiaryonorbeforethebankingdayonwhichreimbursementisduetothenominatedbank.Nominatedbankmeansthebankwithwhichthecreditisavailableoranybankinthecaseofacreditavailablewithanybank.Presentationmeanseitherthedeliveryofdocumentsunderacredittotheissuingbankornominatedbankorthedocumentssodelivered.Presentermeansabeneficiary,bankorotherpartythatmakesapresentation.Article3InterpretationsForthepurposeoftheserules:Whereapplicable,wordsinthesingularincludethepluralandinthepluralincludethesingular.Acreditisirrevocableevenifthereisnoindicationtothateffect.Adocumentmaybesignedbyhandwriting,facsimilesignature,perforatedsignature,stamp,symboloranyothermechanicalorelectronicmethodofauthentication.Arequirementforadocumenttobelegalized,visaed,certifiedorsimilarwillbesatisfiedbyanysignature,mark,stamporlabelonthedocumentwhichappearstosatisfythatrequirement.Branchesofabankindifferentcountriesareconsideredtobeseparatebanks.Termssuchas"firstclass","wellknown","qualified","independent","official","competent"or"local"usedtodescribetheissuerofadocumentallowanyissuerexceptthebeneficiarytoissuethatdocument.Unlessrequiredtobeusedinadocument,wordssuchas"prompt","immediately"or"assoonaspossible"willbedisregarded.Theexpression"onorabout"orsimilarwillbeinterpretedasastipulationthataneventistooccurduringaperiodoffivecalendardaysbeforeuntilfivecalendardaysafterthespecifieddate,bothstartandenddatesincluded.Thewords"to","until","till",“from”and“between”whenusedtodetermineaperiodofshipmentincludethedateordatesmentioned,andthewords“before”and"after"excludethedatementioned.Thewords“from”and"after"whenusedtodetermineamaturitydateexcludethedatementioned.Theterms"firsthalf"and"secondhalf"ofamonthshallbeconstruedrespectivelyasthe1sttothe15thandthe16thtothelastdayofthemonth,alldatesinclusive.Theterms"beginning","middle"and"end"ofamonthshallbeconstruedrespectivelyasthe1sttothe10th,the11thtothe20thandthe21sttothelastdayofthemonth,alldatesinclusive.Article4Creditsv.Contractsa.Acreditbyitsnatureisaseparatetransactionfromthesaleorothercontractonwhichitmaybebased.Banksareinnowayconcernedwithorboundbysuchcontract,evenifanyreferencewhatsoevertoitisincludedinthecredit.Consequently,theundertakingofabanktohonour,tonegotiateortofulfilanyotherobligationunderthecreditisnotsubjecttoclaimsordefencesbytheapplicantresultingfromitsrelationshipswiththeissuingbankorth