Insurance in Two Fold

LeeHowSeng · Post by **LeeHowSeng** » Fri Apr 22, 2005 1:00 am

With reference to UCP 500 Art 20c & UCP 500 Art 34 b .
LC calling for Insurance in 2 fold , however presented 1 original + 1 copy insurance certificate and meanwhile insurance certificate indicating 2 original issued .
Would this be considered as a discrepancy ?

RolandLeupi · Post by **RolandLeupi** » Fri Apr 22, 2005 1:00 am

Yes, as per art. 34 b., unless otherwise authorized in the credit

Lionel · Post by **Lionel** » Sun May 01, 2005 1:00 am

I will accept the beneficiary presentation of insurance in two original based on my interpretation of ISBP Para 34. In reality, insurance is normally issued in two original so that one original can be used for claim if required which is similar to the bills of lading.

PavelA · Post by **PavelA** » Mon May 02, 2005 1:00 am

If a L/C calls for insurance document in two fold and the insurance document shows it was issued in two originals, both of them must be presented in this particular case. This is clear from art. 34b UCP 5OO (also see art. 20(c)ii.) as further explained in para 32 ISBP. Therefore in this case this was discrepancy.

Kind Regards,
Pavel Andrle

LeeHowSeng · Post by **LeeHowSeng** » Tue May 03, 2005 1:00 am

Well guys we hv a case whereby a particular bank in China interpreted 2 fold as 1 original + 1 copy stating this as an authorisation as per UCP 500 Art 34b . Would all of you agree with this as per say UCP 500 Art 20c definition of 2 fold particularly for an insurance docs