ICC Digital Library Forum

Hi all,

Was going through the exchange of correspondence and was wondering what would have gone wrong. It just struck me, is it that by word "issuers", the Issuing Bank was referring to Applicant ???? English language has its own funny ways and interpretations differ from Bank to Bank, Country to Country and Region to Region. Probably, the Issuing Bank was referring to "Applicant" or as some would have it named as "Openers" or probably the "Issuers". Otherwise I do not see any plausible reason for rejection here !!!

Regards,

Pradeep

Pradeep,
thanks for your contribution, the word" issuer" means the issuer of the document which in our case is the beneficiary of the l/c.
the objection of the issuing bank is that the commercial invoice issued by beneficiary, signed and stamped also by the beneficiary but the stamp mentioned another address of the beneficiary although beneficiary's name mentioned within the stamp is exactly as mentioned in the l/c.
so the only difference is the address which was shortly mentioned as only city and country with no further details.

Basel

I also had at first thought that the issuing bank might not be exactly clear when saying the invoice must be signed by the "issuers". However the way the text is worded, I think one can reasonably assume that the commercial invoice "issued ..within the validity" and then signed by the "issuers" would have the same meaning for both "issued" and "issuers". If the issuing bank meant something else, then that's bad luck for them -- because I sincerely feel that any reasonable judge would not accept that the same word (or root of word) could have two different meanings in the same sentence.

regards
Judith

P.S. Yes Jeremy, still keeping my finger in the LC pie -- I decided I didn't want to be brain dead before I became body dead )

Judith, that’s very brave indeed as studies by leading psychologists show that ‘keeping a finger in the LC pie’ can pose a serious risk to one’s mental health!!!! %~/