The insurance document states "issued in original and duplicate one of which being accomplished the other to stand void". One copy stated "original" and another copy also stated "original" with an ink stamp "duplicate" lower down on the document. Would any of ...

the documentary credit calls for an "insurance policy covering all risks as per institute cargo clauses..." An insurance "certificate" in lieu of a "policy" was presented. Article 34d states: unless otherwise stipulated in the credit, banks will accept an insurance cert...

Without liability or responsibility: This is a very interesting question. Article 48a. states: A transferable credit is a credit under which the benef (first benef) may request the bank authorised to pay, incure a deferred payment undertaking, accept or negotiate (the "transferring bank"),...

Jeremy,

Thanks for advisng that we share the same views on this topic. Incidentally I am a woman....
Regards.

Without responsibility/liability: I have read the new comments on this interesting and controversial topic. Article 37a refers to the beneficiary “NAMED” in the credit. The addresses provided in credits serve the purpose of facilitating advising banks in their locating beneficiaries in order to advi...

Jeremy, you are absolutely correct in your statement that the documentary credit instrument is undermined by the calling of invalid discrepancies. The named discrepancy of misspellings/typing errors and even a completely different address to that shown in the credit is a perfect example of this. The...

Thank you Jeremy for your reply and I shall most definitely take a look at the site you refer to.

No matter how long, or short, a mathematical calculation is on an invoice, or any other document for that matter, are bank's responsible to veryify their accuracy? According to article 15 of ICC500 "banks assume no liability or responsiblity for the form, sufficiency, accuracy...of any document...

ISBP addresses the matter of misspellings and/or typing errors with regards to words or sentences (article 23). However often there are typing errors in either the beneficiary's or applicant's address which appear insignificant enough yet are considered a discrepancy. An example is a street name app...

Because some banks are not clear on ICC500 article 20 (b) they will often include a notation in their covering letter to beneficiary's (when advising the original credit) to the effect that all original documents must be stamped "original". I wonder whether this practice is correct in ligh...