Dear all,
I kindly ask you for your suggestions in the following matter:
L/C shows the following clause:
for airshipment latest shipment date xx.xx.xx
for seashipment latest shipment date xx.xx.xx
In case here are different dates for example:
airshipment 01.01.09
seashipment 15.01.09
and assumed that documents were presented showing airshipment with actual shipment 05.01.09 (late shipment) would this make the following seashipment invalid as per art. 32 ?
Please note that no periods and or goods are defined for air- resp. seashipment.
I am looking forward to your suggestions.
Best regards
Stephan
[edited 5/20/2009 2:12:11 PM]
Art. 32 and L/C wording
Art. 32 and L/C wording
Stephan,
Art. 32 does not apply as there is no instalment. Art. 32 would apply if a specific amount of goods should be shipped between, say, 15.8.09 and 31.8.09 by air and another specific amount of goods between 1.9.09 and 15.9.09
by sea.
Daniel
Art. 32 does not apply as there is no instalment. Art. 32 would apply if a specific amount of goods should be shipped between, say, 15.8.09 and 31.8.09 by air and another specific amount of goods between 1.9.09 and 15.9.09
by sea.
Daniel
Art. 32 and L/C wording
I agree with Daniel.
Regards,
Don
Regards,
Don
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SudeshnaChatterjee
- Posts: 1
- Joined: Fri Apr 05, 2019 5:27 pm
Art. 32 and L/C wording
I too agree with Daniel's reply.
Art.32-Instalment drawings does not give the beneficiary any choice to ship or not to ship under one instalment so as to utilize the next. If the first is not utilized the credit will be as good as an expired credit at that stage itself.
In your example beneficiary can either choose to ship through air or by sea therefore it cant be categorized under instalment shipments/drawings. To be simple, it is not a scheduled shipment but just a choice of mode of transportation.
Regards,
Art.32-Instalment drawings does not give the beneficiary any choice to ship or not to ship under one instalment so as to utilize the next. If the first is not utilized the credit will be as good as an expired credit at that stage itself.
In your example beneficiary can either choose to ship through air or by sea therefore it cant be categorized under instalment shipments/drawings. To be simple, it is not a scheduled shipment but just a choice of mode of transportation.
Regards,