Because UCP 600 standards are internationally recognised it’s always best to use letters of credit that are covered by them. If you’re an importer you may well find that sellers require you to use UCP letters of credit.
If a letter of credit is subject to UCP it will state this somewhere on it. It might include a statement like ‘This letter of credit is subject to the latest version of Uniform Customs and Practice for Documentary Credits published and updated by the International Chamber of Commerce’.
Be aware that in some instances the definitions and procedures set out in the UCP standards may differ from the laws of a particular country.