Should bankers neglect the inconsistency due to application
Posted: Mon Oct 14, 2002 1:00 am
T.O.,
If I understand you correctly, you are saying the ‘final’ ISBP ‘outlaws’ a blading marked freight paid presented under a credit where the goods description includes the Incoterm ‘FOB’ or similar. However, I cannot see that this is the case. I should also mention that if it is, I cannot get terribly excited about it; my main concern is uniformity of approach in document examination between banks.
As to ‘voting’, I thought this was something only national delegations could do, not individual banks. Whatever, my view is that it will be very risky for a bank not to adhere to ISBP once adopted.
Trust we can now put this matter ‘to bed’.
Jeremy
[edited 10/14/02 1:59:17 PM]
If I understand you correctly, you are saying the ‘final’ ISBP ‘outlaws’ a blading marked freight paid presented under a credit where the goods description includes the Incoterm ‘FOB’ or similar. However, I cannot see that this is the case. I should also mention that if it is, I cannot get terribly excited about it; my main concern is uniformity of approach in document examination between banks.
As to ‘voting’, I thought this was something only national delegations could do, not individual banks. Whatever, my view is that it will be very risky for a bank not to adhere to ISBP once adopted.
Trust we can now put this matter ‘to bed’.
Jeremy
[edited 10/14/02 1:59:17 PM]