You may find your answer in R241
Regards
Khalid

Dear Vin, As Kim said this would be best answered by lawyers, but as a layman dealing with URC only I feel there is a strong case for binding the collecting bank here. The collection order clearly stated that “fate be advised by telephone/facsimile. I would think that in terms of URC sub art 4(b) it...

Judith,
I was just trying to play the devil. I wouldn’t reject documents either for this reason unless absolutely sure (from the documents) that the supplied goods do not correspond with the goods requested in the credit.
Regards
Khalid

Judith,
Does second hand necessarily mean used? I would think "second hand" would be where the ownership has passed from the first owner to the second. This could be for a brand new item also, for instance an unwanted gift.
Regards, Khalid

Dear All,
I think a reading of R367 may help in clarifying the interpretation/purpose of sub art 39(b).
Regards Khalid

Can someone quote the ref to ICC decission regarding used and 2nd hand machinery.
I think that 2nd hand machinery and used are two different things and documents can be declared discrepant on these grounds

Aamir sohail

[edited 3/27/2007 9:35:14 PM]

PTN, I agree with Jeremy on both counts. When a bank issues a transferable credit it must prepare itself to the fact that some of the information that appear on certain documents may not agree with that shown on the invoices due to the substitution of the invoices. There is also a possibility that t...

Daniel,
To my mind “drawing” under 39c refers to the “invoice amount’’ rather than the amount claimed.
Regards, Khalid

Daniel, I have to differ with you on this one. article 39 on the whole deals with allowances in credit amount, quantity & unit price & not with drawings. I feel that art 37(b) would be more relevant to drawings. Although I believe that an invoice showing a deduction of 'discount' being grant...

Raymond, In my view the documents comply. Sub art 39(c) is not applicable here, this sub article applies to situations where the amount of the credit has been rounded up for commercial reasons, or where the terms are CFR or CIF and the price quotation is based on a hypothetical quotation on the insu...