goods description
goods description
LC CALLS FOR THE GOODS AS : SHIRTS AND TROUSERS AND PARTIAL SHIPMENT ALLOWED. MAY WE ACCEPT THE INVOICE SHOWING GOODS DESCRIPTION AS ; SHIRTS AND THE LC AMOUNT IS NOT FULLY UTILIZED.OR IF LC CALLS FOR GOODS AS XXX AND YYY WHICH XXX AND YYY IS A SPECIAL NAME FOR SOME TECHNICAL PRODUCTS WHICH AS A BANKER, MAY NOT KNOW WHAT THE GOODS EXACTLY, THEN MAY WE ACCEPT THE INVOICE PRESENTED IF IT ONLY SHOWING GOODS DESCRIPTION AS XXX.
goods description
Since the DC allows partial shipments of shirts and trousers, the beneficiary may ship
(1) shirts only;
(2) trousers only; or
(3) a mix of shirts and trousers,
PROVIDED THAT :
(1) there is no stipulations, whether express or implied, in the DC
to restrict partial shipments done in this manner; and
(2) the amount of the DC is not fully drawn in a partial shipment.
If the applicant wishes to receive the shirts and trousers in any specific manner or mix, he should have said so in the DC. Otherwise, according to many judicial decisions from various jurisdictions (we believe should be available in the DC Pro Search), any confusion in the DC may be interpreted against the interest of the issuing bank or the applicant.
In examination of documents for compliance, the bankers are already well protected by the four disclaimer Articles in the UCP 500.
http://www.tolee.com
[edited 9/8/01 5:54:45 PM]
(1) shirts only;
(2) trousers only; or
(3) a mix of shirts and trousers,
PROVIDED THAT :
(1) there is no stipulations, whether express or implied, in the DC
to restrict partial shipments done in this manner; and
(2) the amount of the DC is not fully drawn in a partial shipment.
If the applicant wishes to receive the shirts and trousers in any specific manner or mix, he should have said so in the DC. Otherwise, according to many judicial decisions from various jurisdictions (we believe should be available in the DC Pro Search), any confusion in the DC may be interpreted against the interest of the issuing bank or the applicant.
In examination of documents for compliance, the bankers are already well protected by the four disclaimer Articles in the UCP 500.
http://www.tolee.com
[edited 9/8/01 5:54:45 PM]