misspellings and/or typing errors in the beneficiary's/appli

NigelHolt · Post by **NigelHolt** » Thu Jan 23, 2003 12:00 am

Mr. Simon (I assume this is your surname),

I share your views entirely.

Opinion R470 states:

‘…… sub-Article 37(a) does not impose a specific requirement for the address of the applicant to appear. This sub-Article refers to the invoice being issued in the name of the applicant.’

Opinion R474 states:

‘There is no specific requirement in the …… UCP for the address appearing in the credit to be that shown on individual documents.’

This opinion rightly goes onto say that a document bearing a beneficiary address in a DIFFERENT country is compliant, u.o.s. in the credit.

Overall, I regard ISBP a being singularly disappointing regarding this, and I regret to say, many other matters. Rather than reducing the scope for inter-bank dispute, I believe it has potentially increased it in a number of areas, in this particular instance by possibly implying addresses must automatically appear and be those quoted in the credit.

Jeremy
[edited 1/23/03 2:45:52 PM]

JudithAutié · Post by **JudithAutié** » Mon Jan 27, 2003 12:00 am

Dimitri
Sorry I took so long to reply, but I've been out of the country. We ran into a case of various spellings for the same entity recently : a company having in it's name HEMSA, also spelled HAMZA on certain messages sent by that company.
This is not the only time, just a recent case that came up.

I sincerely hope that issuing banks (and eventually judges)will take into account the Opinions you quoted Jeremy (R470 and R474) and not consider that being prior to ISBP, they have been overruled.

This is not the only point in the ISBP which cause some discussion here. Typos in goods description is a hard one. Suppose that in the goods description instead of "fountain pen" you get "fountain pan". Who will be willing to take the chance that it is a typo and not a basically different material here?

Some of the points in ISBP are long-awaited clarifications, but some of them might raise more problems than they are supposed to solve.

Judith

simonj · Post by **simonj** » Mon Jan 27, 2003 12:00 am

Jeremy,

Thanks for advisng that we share the same views on this topic. Incidentally I am a woman....
Regards.

NigelHolt · Post by **NigelHolt** » Tue Jan 28, 2003 12:00 am

Ms. Simon,

Oops!

Thanks for the 'clarification'. Perhaps one day you'll allow us to learn your first name?

Best regards, Jeremy
[edited 1/28/03 12:50:04 PM]