Identification of the issuer

GSham · Post by **GSham** » Thu Oct 27, 2011 1:00 am

In accordance with UCP 600 article 3 item 6, terms such as "independent", "competent" used to describe the issuer of a document allow any issuer except the beneficiary to issue that document.

(1) L/C calls for a certificate issued by a competent authority. A certificate was presented, issued by a named party other than the beneficiary. However, the issuer did not identify itself as a "competent authority". Is the document discrepant due to the issuer's failure to identify itself as a "competent authority"?

(2) L/C calls for a certificate issued by an independent surveyor. A certificate was presented, issued by a named party other than the beneficiary, identifying itself as a surveyor (without the word "independent"). Does absence of the word "independent" make the document non-complying?

NigelHolt · Post by **NigelHolt** » Thu Oct 27, 2011 1:00 am

In my view 'no' & 'no' as it would otherwise render this Art. 3 'interpretation' irrelevant.

HOANGTHIANHTHU_invalid · Post by **HOANGTHIANHTHU_invalid** » Fri Oct 28, 2011 1:00 am

1) No.
2) No.

N.H. Duc

GSham · Post by **GSham** » Fri Oct 28, 2011 1:00 am

Thanks, Jeremy and N.H. Duc.

I seek your further advice on sub-article 14(f), with regards to the stipulation of a document issuer in a credit -- does it have to be a name, eg ABC Co., or can it be as a profession, eg, an architect, a surveyor?

When the credit calls for a document to be issued by a surveyor, is it a requirement that the document must appear to be issued by a surveyor? In other words, is the document non-complying if it cannot be established from the document itself that the issuer is a surveyor?

NigelHolt · Post by **NigelHolt** » Fri Oct 28, 2011 1:00 am

In the case of document 2. it would have to appear to be issued by a surveyor. This appearance could be given by, for instance, the name of the issuer indicating it was a surveyor (e.g. ABC Surveying Co. Ltd) or by the document describing the issuer as a ‘surveyor’ (e.g. signed ‘Joe Bloggs, Surveyor’).

GSham · Post by **GSham** » Fri Nov 18, 2011 12:00 am

What if the document does not contain any indication that the issuer is a surveyor, but the issuer is widely known to be a surveyor, eg, SGS? While banks need not and should not inquire beyond the documents, should the issuing bank reject such a document? The answer appears to be yes, because it cannot be established from the data content that the issuer is a surveyor.

NigelHolt · Post by **NigelHolt** » Sat Nov 19, 2011 12:00 am

If you have not already read it the Kredietbank Antwerp v Midland Bank plc case ([1999] All ER (D) 431) might be of interest to you in this regard.

As to your question, I am not sure as to the answer, but in the specific case of SGS as most bankers know this stands for Societe Generale de Surveillance I would have thought this alone would be sufficient to indicate issuance by a surveyor.