Beneficiary Certificate

MichaelFlanagan · Post by **MichaelFlanagan** » Wed Nov 13, 2002 12:00 am

Does Beneficiary Certificate needs to be signed, eventhough it is not stipulated on the L/C?

T.O.Lee · Post by **T.O.Lee** » Thu Nov 14, 2002 12:00 am

In the ISBP, under Article 35, it states:

“Even if not stated in the Credit, drafts, certificates and declarations by their nature require a signature.”

www.tolee.com

HeinzHertl · Post by **HeinzHertl** » Tue Nov 19, 2002 12:00 am

TOLee is correct in referring to ISBP. Besides that it was also - at least as far as my experience shows - common practice of banks to require a signature on a certificate.
Best regards
Heinz

PavelA · Post by **PavelA** » Tue Dec 10, 2002 12:00 am

I agree with above opinions. I also agree that it had been international standard banking practice even before the official ISBP was approved by ICC Banking Commission.

What might confuse somobody in this regard is the fact that some other documents, which are or might be issued by the beneficiary, as for instance packing list, would not need to be signed by them if not specifically required by the L/C.

Pavel Andrle