Article 3 of UCP600
Article 3 of UCP600
May I kindly solicit your expert opinion on a technical issue. A letter of credit calls for two documents to be "issued and signed by the competent authorities in the C.O.O". The relative documents were presented duly issued by the supplier but bearing a clause affirming that "shipper/consignor/supplier as supplier X for and on behalf of Beneficiry Y". (it is a b/b trans). Would such a clause on these docs, albeit issued by the supplier, infringe article 3 of the UCP600? I thank you Joee Malta
Article 3 of UCP600
Dear Joee, I am sorry but I am totally mystified by your query. Things I do not understand include:
1. the meaning of “the C.O.O" (I am assuming it does not mean cert of origin as this would not seem to make sense).
2. what relevance the relative documents being issued by the supplier etc has to do with the credit requirement you quote.
3. if the supplier is the beneficiary and, if not, who are they.
4. which definition in Art 3 you have in mind.
Regards, JS
1. the meaning of “the C.O.O" (I am assuming it does not mean cert of origin as this would not seem to make sense).
2. what relevance the relative documents being issued by the supplier etc has to do with the credit requirement you quote.
3. if the supplier is the beneficiary and, if not, who are they.
4. which definition in Art 3 you have in mind.
Regards, JS
Article 3 of UCP600
Thanks Jeremy. So :
1)C.O.O stands for Country of Origin.
2)Documents are Health and Free Sale certificate under master LC and the b/b lc had a special condition requesting same applicable to all documents.
3)Supplier is different from beneficiary.
4) The issue of "competent authority" in that these documents have been issued by a party other that the beneficiary , but having a clause stating that the third party(suplier) is acting for an on behalf of the beneficiary.
Hope I have clarified. thanks
1)C.O.O stands for Country of Origin.
2)Documents are Health and Free Sale certificate under master LC and the b/b lc had a special condition requesting same applicable to all documents.
3)Supplier is different from beneficiary.
4) The issue of "competent authority" in that these documents have been issued by a party other that the beneficiary , but having a clause stating that the third party(suplier) is acting for an on behalf of the beneficiary.
Hope I have clarified. thanks
Article 3 of UCP600
Joee,
It seems clear to me the ‘supplier’ is acting as the beneficiary’s agent and therefore the document has been issued by the beneficiary in contravention of Art 3 para 6.
Regards, JS
It seems clear to me the ‘supplier’ is acting as the beneficiary’s agent and therefore the document has been issued by the beneficiary in contravention of Art 3 para 6.
Regards, JS
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HOANGTHIANHTHU_invalid
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Article 3 of UCP600
Hi,
Agreed with Jeremy.
It is understood from Article 3 UCP 600 that if the L/C requires a document to be issued by a competent authority, any party except the beneficiary can issue that document. The document issued by the supplier on behalf of the beneficiary is considered to be issued by the beneficiary, hence, it contradicts Article 3 UCP 600.
Regards,
N.H.Duc
Agreed with Jeremy.
It is understood from Article 3 UCP 600 that if the L/C requires a document to be issued by a competent authority, any party except the beneficiary can issue that document. The document issued by the supplier on behalf of the beneficiary is considered to be issued by the beneficiary, hence, it contradicts Article 3 UCP 600.
Regards,
N.H.Duc
Article 3 of UCP600
I thank you gentlemen. However for the sake of clarity I should point out that the documents have been issued by the supplier on their letterhead and duly signed but contained a phrase (as per LC terms) that the Shipper/consignor/Exporter reads "Supplier X for and on behalf of Ben Y". I am arguing whether such an inclusion would go against Article 3 as detailed above. I thank you again.
Article 3 of UCP600
I am afraid this additional information leaves me once again confused Joee as to what the exact terms of the credit are with respect to the signing of documents required under the credit.