The impact of this article is collective with those of UCP 600 Articles 34 (Disclaimer on Effectiveness of Documents), 35 (Disclaimer on Transmission and Translation), and 37 (Disclaimer for Acts of an Instructed Party), and stresses (in relation to electronic presentations under the eUCP) the absolute applicability of the principle of independence reflected in numerous UCP 600 articles.
Disclaimers are tools used to transfer risk from one party to another. Based upon the limited role of banks in documentary credit practice, disclaimers have been used to limit their liability from the actions or omissions of others.
As was stated at the time of the release of eUCP Version 1.0, the provisions of UCP 600, appropriately interpreted, should be more than sufficient to establish the independent character of an eUCP credit and the role of the banks.
However, it was considered the authentication of an electronic record is arguably different in character from the examination of a paper document. Accordingly, since this level of authentication is already greater than that undertaken with paper documents, and could be increased further in the future by technological developments, it was thought important to emphasise the limited role of authentication in the eUCP process.
Data is to be examined as ‘apparently' transmitted without having to make reference to whether or not it complies with the transaction or transactions that gave rise to it, the intention of the parties to the transaction, or whether the representations in the document are accurate or genuine.
A bank is responsible for the failure of its owndata processing system to authenticate electronic records should it emerge that such systems are not of the appropriate standard for the processing of such electronic records. However, they have no such responsibility for consequences that arise from the unavailability of a data processing system which is not their own.