instalment

General questions regarding UCP 600
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PhanThanhNhan
Posts: 102
Joined: Fri Apr 05, 2019 5:23 pm

instalment

Post by PhanThanhNhan » Mon Mar 19, 2012 12:00 am

Hi all,

Pls give us your comment on this case:

F44D of L/C state “shipment period from 15/02/2012 to 15/03/2012” and partial shipment allowed. Does this mean L/C containing an instalment schedule?

And if the first shipment has been effected before 15/02/2012, can we raise the discrepancy “shipment not as per schedule” for the remaining of L/C? (as Article 32: if a drawing or shipment by instalments within given periods is stipulated in the credit and any instalment is not drawn or shipped within the period allowed for that instalment, the credit ceases to be available for that and any subsequent instalment).

Thank you very much.
HOANGTHIANHTHU_invalid
Posts: 189
Joined: Fri Apr 05, 2019 5:15 pm

instalment

Post by HOANGTHIANHTHU_invalid » Tue Mar 20, 2012 12:00 am

Hi,

Where an LC indicates a shipment schedule by only indicating a number of latest dates or only ONE GIVEN PERIOD, and not GIVEN PERIODS, it is not an installment schedule as envisaged by UCP 600 and Article 32 will not apply. The presentation is to otherwise comply with any instructions in respect of the schedule and UCP 600 Article 31.

The L/C stipulates shipment period from 15/02 to 15/03. So, any shipment made before 15/02 would not comply. As Article 32 will not apply in this case, further shipments made within the stipulated period are acceptable.

Other comments are appreciated.

Best regards,
N.H.Duc
DanielD
Posts: 538
Joined: Fri Apr 05, 2019 5:16 pm

instalment

Post by DanielD » Tue Mar 20, 2012 12:00 am

My comment, N.H. Duc is that you're right.
Regards

Daniel
polterd
Posts: 31
Joined: Fri Apr 05, 2019 5:16 pm

instalment

Post by polterd » Tue Mar 27, 2012 1:00 am

A single period stipulated for partial shipments cannot be considered an instalment and consequently art.32 is not applicable.
Unless you find any other discrepancy, docs evidencing further shipments between given period will comply with credit terms.
.
Regards,
Bogdan
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