Does the UCP specify that each document presented for L/C negotiation must include the L/C's description of the goods verbatim?

The correct response is based on the provisions of the Uniform Customs and Practice for Documentary Credits (UCP). The UCP does not mandate that each document presented for letter of credit (L/C) negotiation must include the description of goods as stated in the L/C verbatim. Instead, it emphasizes that documents must be presented in accordance with the terms and conditions of the L/C and must generally match the description of goods. However, minor discrepancies that do not lead to confusion or misinterpretation are often acceptable.

In practice, while it is important for documents to accurately reflect the terms of the L/C, the UCP allows for some flexibility in how descriptions are presented, acknowledging that perfect conformity may not always be feasible or realistic. Thus, option B, indicating that the UCP does not require verbatim descriptions of goods in the documents, aligns with the principles of the UCP’s intent to facilitate international trade while allowing for practical variations in documentation.