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Draft
Posted: Mon Aug 08, 2011 1:00 am
by ccastanedai
L/C states "All documents" must bear "B.Bank Permission No......."
Beneficiary presents the documents without mentioning "B.Bank Permission No......." in the Draft/Bill of Exchange.
My question, can we consider Draft/Bill of Exchange is a part of "All documents"
Draft
Posted: Tue Aug 09, 2011 1:00 am
by BAKHTEYERH
DEAR,
ALL DOCUMENT SHOULD BE TREATED AS ALL SHIPPING DOCUMENT AS DEFINED IN ISBP PARAGRAPH 21(A)
.
DRAFT IS NOTHING BUT FORMAL CLAIM FROM THE BENEFICIARY TO THE ISSUING BANK OR CONFIRMING BANK OR NOMINATED BANK [AS THE CASE MAY BE]
.
HENCE NO DISCREPANT.
[edited 8/9/2011 3:41:58 PM]
Draft
Posted: Wed Aug 10, 2011 1:00 am
by SergeyK
Dear Isabella,
If draft/bill of exchange is among the documents required in field 46A of the LC, then I would consider documents presented as beeing not in compliance with LC terms, as special condition from LC is not met.
I would recommend to take a look at "Analysis" part of ICC official opinion TA703rev - Unpublished UCP 600. First point of it states, as per ICC, when drafts are to be considered to be part of "all documents". Also ICC opinion TA734 - Unpublished UCP 600 might be useful.
With kindest regards,
Sergey