Dear all, By default UCP 600 art. 14 c makes clear that documents should be presented not later than 21 calendar days after the date of shipment. Furhtermore there are definitions of "from" in article 3 in respect of shipment periods and maturity dates. It would be interesting to hear you ...

I would say it is a discrepancy on the basis of UCP600 article 18c. The description of the goods in the commercial invoice must correspond with that appearing in the credit.

If there's a ICC opinon stating the opposite, I would gladly read it.

Kind Regards,
Niklas
[edited 12/17/2008 12:48:51 PM]

Dear JSmith and N.H. Duc, I appreciate your comments and insights.

The situation is, as JSmith correctly mentioned, that the IB does not pay/honour after the fifth banking day.

Kind Regards,
Niklas

Dear members, Which appropriate actions can a Confirming Bank (CB) take towards an Issuing Bank (IB) if the IB does not determine if a presentation is complying within five banking days according to article 14 in UCP600? What is in your opinion banking practice for a CB to act when the fifth banking...

Thank you dear Jeremy for your feedback. We read a lot about Britains worst floods - we would like to express our sympathy, what a nightmare - hopefully you and your family are well. Having given the issue an extra thought I'm bound to agree with you - however still we find that ISBP could have been...

Dear all, An issue which might seem crystal clear to you all, but once you start scrutinize it, it might cause some headache -namely ISBP § 16 a "within 2 days after" seen in the light of "within" as defined in ISBP § 17. (We had it already under ISBP publ. 645) In case an event ...

Dear all, I would venture to ask you whether you have come across a query as 470/T.A 608rev1, No 9, Banking Commission Opinion Fall 2006, the issue was whether a nominated acted correctly not accepting the draft titled "Bill of Exchange" instead of "Pay against this draft". The c...

Thank you dear Jeremy for attending to my query, I do agree.
The beneficiary did not sign in his capacity as beneficiary and should
he actually have done it - it would have constituted a violating of UCP 500 article 34).
Best regards
Marianne

Dear all, I would like to raise a question concerning "issuer" of an insurance certificate: An LC is stipulating that "with the exception of documents issued by the beneficiary no documents may show contract number". An insurance certificate has been presented evidencing that the...

Dear all, we have seen 1) statements to the effect that discrepant documents should be handled on collection basis, 2) Minor discrepancies resulting in the issuing banks' asking for permission to hand over original documents in order to arrange for inspection of goods, (which of course is not accept...