Can someone quote the ref to ICC decission regarding used and 2nd hand machinery.
I think that 2nd hand machinery and used are two different things and documents can be declared discrepant on these grounds
Aamir sohail
[edited 3/27/2007 9:35:14 PM]
USED VS 2ND HAND MACHINERY
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RolandLeupi
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USED VS 2ND HAND MACHINERY
But a 2nd hand machinery has been used too
Roland
Roland
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JudithAutié
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USED VS 2ND HAND MACHINERY
Longman modern english dictionary gives the definition for "used" as
"secondhand, a used-car market".
A rather difficult call here, if the credit says second-hand and the invoice says "used"
Both UCP 500 and 600 say the description of the goods on the invoice must "correspond" with the discription in the credit, whereas
goods description on other documents may be in general terms. I certainly wouldn't like to go to court over this, since some courts insist on strict identical wording but others might easily say that both words mean the same thing.
Good luck
Judith
"secondhand, a used-car market".
A rather difficult call here, if the credit says second-hand and the invoice says "used"
Both UCP 500 and 600 say the description of the goods on the invoice must "correspond" with the discription in the credit, whereas
goods description on other documents may be in general terms. I certainly wouldn't like to go to court over this, since some courts insist on strict identical wording but others might easily say that both words mean the same thing.
Good luck
Judith
USED VS 2ND HAND MACHINERY
Judith,
Does second hand necessarily mean used? I would think "second hand" would be where the ownership has passed from the first owner to the second. This could be for a brand new item also, for instance an unwanted gift.
Regards, Khalid
Does second hand necessarily mean used? I would think "second hand" would be where the ownership has passed from the first owner to the second. This could be for a brand new item also, for instance an unwanted gift.
Regards, Khalid
USED VS 2ND HAND MACHINERY
Khalid,
Anyway, the only decision I know about this topic is in "Avis de la Commission bancaire de la CCI (1980-1981) p. 34-35 - I only have the French version.
Daniel
Anyway, the only decision I know about this topic is in "Avis de la Commission bancaire de la CCI (1980-1981) p. 34-35 - I only have the French version.
Daniel
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JudithAutié
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USED VS 2ND HAND MACHINERY
Khalid
Another phrase that is employed more and more is "previously owned", which is an euphanism coined to avoid the idea that "used" means "worn", particularly in the automobile field. However, if you win a car as a prize, never drive it and resell it, it is still considered a "used" car, at least taxwise.
Still wouldn't want to reject documents on the difference between used and secondhand.
Regards
Judith
Another phrase that is employed more and more is "previously owned", which is an euphanism coined to avoid the idea that "used" means "worn", particularly in the automobile field. However, if you win a car as a prize, never drive it and resell it, it is still considered a "used" car, at least taxwise.
Still wouldn't want to reject documents on the difference between used and secondhand.
Regards
Judith
USED VS 2ND HAND MACHINERY
Judith,
I was just trying to play the devil. I wouldn’t reject documents either for this reason unless absolutely sure (from the documents) that the supplied goods do not correspond with the goods requested in the credit.
Regards
Khalid
I was just trying to play the devil. I wouldn’t reject documents either for this reason unless absolutely sure (from the documents) that the supplied goods do not correspond with the goods requested in the credit.
Regards
Khalid