Jeremy,

To me, the p/o figures are simply a breakdown of the 'amount of the credit' and so logically can be reduced (pro rata) in the event of a transfer.

I've got a sneaking suspicion that I'm siding with the wrong camp!

Phil

Jeremy, Definitely not a unit price otherwise they'd be very expensive widgets! Since there are no quantities stated the amounts are, in my opinion, total per p/o and, therefore, could be reduced (pro rata) to match the new value of the l/c. If part shipments effected the invoice would need to show ...

I would pick this up as a discrepancy.

Phil

L/C requires that Insurance Cert must stipulate that claims are payable in the currency of the draft. If the cert (and draft)is in issued in usd: a) is there need for this statement to mentioned at all b) is it enough for the cert to mirror the l/c and state verbatim 'claims are payable in the curre...

I'm sure the ICC studied the back of every available bill of lading before issuing their statement!

Laurence, Initially I was simply applying 25+ years' practical experience in handling l/c's. I have, however, had a delve and come up with case 21 in Case Studies on Doc Credits (publ 535) which appears to support my view (I do realise that this publication has a certain 'pariah' status attached to ...

I would agree that Art 48h allows this change as it's clearly a reduction in the amount of the l/c.

Judith, as regards your second point, such a change is obviously outside UCP and, even though there appears to be no risk in accepting beneficiary's request, I would prefer not to do so.

Phil

I'm glad that there is now no doubt that these type of b/l's are acceptable. However, the statement 'The view of the Banking Commission is that such clauses represent terms and conditions of carriage, that have traditionally appeared on the back (or reverse) of the B/L, which some shipping companies...

A packing list is one of those types of docs which clearly (if the l/c is silent) does not need to be issued by a named party provided it fulfils its function as a packing list. Other docs fall into this category such as weight note and stowage plan. Obviously it is unusual for the originator of a d...

If the l/c was definitely fully utilised i.e. zero balance the last presentation is discrepant. If there was any balance, however small, docs would be acceptable

Phil Gauntlett