When FCR shows 3 dates, such as
-Date of receipt 10 May
-Date of issue 12 May
-On Board 15 May
Which will be considered as a date of shipment in line with UCP 600. L/C simply ask for presentation of FCR.
Shahed
[edited 6/21/2007 4:09:50 PM]
[edited 6/22/2007 4:26:22 PM]
FCR
FCR
Neither UCP500 nor UCP600 cover FCRs and therefore fall under Art 21 / sub-Art. 14(f). Thus they have nothing to say regarding your question.
[edited 6/21/2007 5:01:42 PM]
[edited 6/21/2007 5:01:42 PM]
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KimChristensen
- Posts: 404
- Joined: Fri Apr 05, 2019 5:21 pm
FCR
It seems to me that these kind questions keep coming up all the time. To me this indicates that there is an almost desperate need to establish a practice here.
As far as I can see the problem is that most LCs asking for documents like an FCR is poorly drafted – in that it does not require a transport document as described in the rules but at the same time has a requirement regarding “shipment”; either for latest presentation – or for latest date of “shipment”.
I think that one should acknowledge that shipment in the context of UCP is abstract. There is no single definition of what constitutes shipment – that is alone defined in the articles covering the transport documents i.e. there are seven different definitions.
So for example for a “Bill of lading” according to UCP 600 shipment is defined as (20,a,ii):
Quote
The date of issuance of the bill of lading WILL BE DEEMED TO BE THE DATE OF SHIPMENT unless the bill of lading contains an on board notation indicating the date of shipment, in which case the date stated in the on board notation WILL BE DEEMED TO BE THE DATE OF SHIPMENT.
[Emphasis added]
Unquote
So in this case I agree with Jeremy – as this document – an FCR – is not described in UCP 600 article 19-25 – hence there is no definition on what constitutes shipment for such document. Therefore the word “shipment” alone makes no sense where such document is required – and therefore it is impossible to establish shipment – if one were to check a “latest date of shipment”.
If e.g. a presentation period were to apply for an FCR then the LC should be specific as to how to calculate such e.g. “documents to be presented no later then 21 days after issuance date of FCR – however within validity of the credit”.
Best regards
Kim
As far as I can see the problem is that most LCs asking for documents like an FCR is poorly drafted – in that it does not require a transport document as described in the rules but at the same time has a requirement regarding “shipment”; either for latest presentation – or for latest date of “shipment”.
I think that one should acknowledge that shipment in the context of UCP is abstract. There is no single definition of what constitutes shipment – that is alone defined in the articles covering the transport documents i.e. there are seven different definitions.
So for example for a “Bill of lading” according to UCP 600 shipment is defined as (20,a,ii):
Quote
The date of issuance of the bill of lading WILL BE DEEMED TO BE THE DATE OF SHIPMENT unless the bill of lading contains an on board notation indicating the date of shipment, in which case the date stated in the on board notation WILL BE DEEMED TO BE THE DATE OF SHIPMENT.
[Emphasis added]
Unquote
So in this case I agree with Jeremy – as this document – an FCR – is not described in UCP 600 article 19-25 – hence there is no definition on what constitutes shipment for such document. Therefore the word “shipment” alone makes no sense where such document is required – and therefore it is impossible to establish shipment – if one were to check a “latest date of shipment”.
If e.g. a presentation period were to apply for an FCR then the LC should be specific as to how to calculate such e.g. “documents to be presented no later then 21 days after issuance date of FCR – however within validity of the credit”.
Best regards
Kim