LC calls for signed Commercial Invoice with Legalization by Chamber of Commerce in 1 Original and 1 Copy
The Presented invoice is signed as well as Legalized and Title as Commercial Invoice, However the Issuing Bank have reject the same stating that "Original Invoice not presented only Certified True Copy presented "
The Presented Invoice was stamped Certified True Copy.
So IS this a Valid Discrepancy or an Invalid one
please help me with ur expertise comments
Thanks n Regards,
AK
Certified True Copy
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THI THUY MYT_
- Posts: 49
- Joined: Fri Apr 05, 2019 5:15 pm
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GlennRansier_olsABN
- Posts: 70
- Joined: Fri Apr 05, 2019 5:18 pm
Certified True Copy
Interesting question. I understand a Certified True Copy to be a copy/photocopy of an original document signed and certified/authenticated by someone authorized to do so, like a Justice of Peace or Notary Public or in this case the Chamber of Commerce. Article 17 b. does not appear to provide the needed guidance. With original beneficiary and Chamber signatures I would accept it as the original.
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THI THUY MYT_
- Posts: 49
- Joined: Fri Apr 05, 2019 5:15 pm
Certified True Copy
Dear GLENNRANSIER,
.
I confirm that Invoice showed original signature of beneficiary.
but issuing bank refused docs upon foundation a/f:
.
ICC Banking Commission Policy Statement, document 470/871 (Rev) titled The Determination of an 'original' Document in the context of UCP 500 sub-article 20b' states
3. Correct Interpretation of Sub-Article 20(b)
3.1 General approach.
Banks examine documents presented under a letter of credit to determine, among other things, whether on their face they appear to be original. Banks treat as original any document bearing an apparently original signature, mark, stamp, or label of the issuer of the document, UNLESS THE DOCUMENT ITSELF INDICATES THAT IT IS NOT ORIGINAL.
3.7 Statements indicating non-originality
A statement in a document that it is a true copy of another document or that another document is the sole original indicates that it is not original.
.
as my opinion, abv statement only mention "true copy", not "certified true copy". So, I disagree with issuing bank about this disc.
I understand it is original because it read the definite of "certified true copy" as the duplicate.
.
Pls give me yr opinion.
Tks for yr early reply!!1
Regards,
AK
.
I confirm that Invoice showed original signature of beneficiary.
but issuing bank refused docs upon foundation a/f:
.
ICC Banking Commission Policy Statement, document 470/871 (Rev) titled The Determination of an 'original' Document in the context of UCP 500 sub-article 20b' states
3. Correct Interpretation of Sub-Article 20(b)
3.1 General approach.
Banks examine documents presented under a letter of credit to determine, among other things, whether on their face they appear to be original. Banks treat as original any document bearing an apparently original signature, mark, stamp, or label of the issuer of the document, UNLESS THE DOCUMENT ITSELF INDICATES THAT IT IS NOT ORIGINAL.
3.7 Statements indicating non-originality
A statement in a document that it is a true copy of another document or that another document is the sole original indicates that it is not original.
.
as my opinion, abv statement only mention "true copy", not "certified true copy". So, I disagree with issuing bank about this disc.
I understand it is original because it read the definite of "certified true copy" as the duplicate.
.
Pls give me yr opinion.
Tks for yr early reply!!1
Regards,
AK