WE ISSUED LETTER OF CREDIT REQUIRED FOLLOWING DOCUMENTS:
-INVOICE - ORIGINAL AND PLUS ONE COPY, DULY SIGNED AND STAMPED
- PARCEL POST RECEIPT
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ORDERING CUSTOMER GAVE US ORDER TO AMEND A/M L/C AS FOLLOWS:
-PARCEL POST RECEIPT IS NOT REQUIRED
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IS THERE DOCUMENTARY LETTER OF CREDIT WITHOUT SHIPPING DOCUMENT?
IS THERE POSSIBILITY TO CHECK SHIPMENT DATE?
shipping document
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smiljanaopacic
- Posts: 1
- Joined: Fri Apr 05, 2019 5:27 pm
shipping document
My personal views, without any responsibility/liability are:
There is not any reason, in principle, why one cannot have a credit that is available against documents that do not include a transport document. However, the credit provisions need to be consistent with this. Thus, for example, either -in this case- any latest date for despatch must be deleted or the credit must be amended to specify that the invoice must show the date of despatch. Also, I would observe that in the absence of a transport document, one cannot apply Article 43. However, I cannot imagine this would be of concern to the applicant given that -I suppose- obtaining the goods will not be contingent on documents presentation.
There is not any reason, in principle, why one cannot have a credit that is available against documents that do not include a transport document. However, the credit provisions need to be consistent with this. Thus, for example, either -in this case- any latest date for despatch must be deleted or the credit must be amended to specify that the invoice must show the date of despatch. Also, I would observe that in the absence of a transport document, one cannot apply Article 43. However, I cannot imagine this would be of concern to the applicant given that -I suppose- obtaining the goods will not be contingent on documents presentation.
shipping document
Agreed.
Furthermore, the wording of article 43 indicates that not all credits require the presentation of a transport document:
"a. In addition to stipulating an expiry date for presentation of documents, EVERY CREDIT WHICH CALLS FOR A TRANSPORT DOCUMENT(s) should also stipulate a specified period of time after the date of shipment during which presentation must be made in compliance with the terms and conditions of the Credit."
Furthermore, the wording of article 43 indicates that not all credits require the presentation of a transport document:
"a. In addition to stipulating an expiry date for presentation of documents, EVERY CREDIT WHICH CALLS FOR A TRANSPORT DOCUMENT(s) should also stipulate a specified period of time after the date of shipment during which presentation must be made in compliance with the terms and conditions of the Credit."
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larryBacon
- Posts: 689
- Joined: Fri Apr 05, 2019 5:26 pm
shipping document
The presence of a latest shipment date with the absence of a transport document indicates that Article 13 c applies, viz such conditions are regarded as not stated and are disregarded.
Laurence
Laurence