Corrections and Alterations

[HOANGTHIANHTHU_invalid]

Hi all,

An alteration on BL is authenticated by a small round correction chop bearing the initials of the name of the agent that has issued the BL, e.g. GMD which is understood to stand for GERMADEPT. No initials or signature is added beside the chop.

There have been two different views:

(i) It’s a discrepancy as per ISBP para. 9. The authentication must include the signature or initials (initial signature) of the agent.

(ii) It’s not a discrepancy as the chop, which bears the initials of the agent's name, constitutes a signature.

I would like to hear your comments. By the way, you are recommended to refer to R337 and R552/TA555.

Thanks and regards,
N.H.Duc


[edited 2/27/2010 4:50:19 AM]

[GlennRansier_]

Hi. Hard to really say without seeing the document. However UCP600 article 3 does state: "A document may be signed by handwriting, facsimile signature, perforated signature, stamp, symbol or any other mechanical or electronic method of authentication". It stands to reason that the stamp, if an original stamp should be acceptable.

[DanielD]

I wonder was kind of "signature" would not be allowed under art. 3. None, I think.
Daniel

[GlennRansier_]

Only the fraudulent kind of signature, I hope. Signatures are a difficult thing to police. How can banks force an industry or a culture to conform? LC's and Guarantees play a significant role in international commerce but that does not really give the rule sets that govern them card blanche to force conformity. Each signature must be weighed on its merits.

[SOOEYOUNKIM]

Hi.

Pls refer to TA691

Best regards
YH JEung

[HOANGTHIANHTHU_invalid]

Glenn,

I agree with you. The described chop/stamp can be accepted as signature as per UCP 600 Article 3.

Regards/N.H.Duc