We issued LC expiring at counters of a Bank abroad on June 30th.
Documents were sent to us by courier and received on July 30th.
The Negotiating Bank letter attached to the documents was dated (a coincidence of course) June 30th.
The courier waybill was dated July 28th.
Oh, one more sad item. The Bladings on-board and issuance date was July 20th.
Late shipment of course but is there anything else that we should have used as a rejection?
Dates
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larryBacon
- Posts: 689
- Joined: Fri Apr 05, 2019 5:26 pm
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Hi Cyril,
nice to see you joining us.
Might I suggest looking at Art. 14 of ISBP regarding the distinction of pre and post-shipment dates.
There must be consistency in documentation. Thus if the Neg bank letter is dated prior to the shipment date of the B/L, this is inconsistent.
The Neg bank has a maximum of 7 banking days to check docs and advise discrepancies "without delay" (Art 14 d i)
There is the standard "reasonable care" requirement of Art 13 a, which seems to have been ignored.
If insurance was required, further inconsistency may/may not be evident.
Laurence
nice to see you joining us.
Might I suggest looking at Art. 14 of ISBP regarding the distinction of pre and post-shipment dates.
There must be consistency in documentation. Thus if the Neg bank letter is dated prior to the shipment date of the B/L, this is inconsistent.
The Neg bank has a maximum of 7 banking days to check docs and advise discrepancies "without delay" (Art 14 d i)
There is the standard "reasonable care" requirement of Art 13 a, which seems to have been ignored.
If insurance was required, further inconsistency may/may not be evident.
Laurence
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larryBacon
- Posts: 689
- Joined: Fri Apr 05, 2019 5:26 pm
Dates
Additional item :
It's a toss up between credit expired before presentation of documents, or B/L not presented before expiry.
Laurence
It's a toss up between credit expired before presentation of documents, or B/L not presented before expiry.
Laurence