QUESTION FROM K.
Hi Mr. Old Man,
I do not understand the last sentence of UCP 600 sub-article 14(b) “This period is not curtailed or otherwise affected by the occurrence on or after the date of presentation of any expiry date or last day for presentation”.
Would you please elaborate on this statement? Give an example to support your elaboration.
Thank you.
K.
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ANSWER
Hi K.,
Thank you for your question.
UCP 600 sub-article 14(b) reads as follows: “A nominated bank acting on its nomination, a confirming bank, if any, and the issuing bank shall each have a maximum of five banking days following the day of presentation to determine if presentation is complying. This period is not curtailed or otherwise affected by the occurrence on or after the date of presentation of any expiry date or last day for presentation”.
It is understood from the provision that notwithstanding that the expiry date or the last day for presentation falls on or after the day of presentation, these banks still have a maximum of five banking days following the day of presentation to determine if presentation is complying. It is not because of the expiry date or the last day for presentation falling on or after the the date of presentation that this period is reduced, say, to three or four banking days.
The following example can help clarify the provision:
L/C stipulates:
Date and place of expiry: 26 April, 2011 Vietnam
LC available with Bank N by negotiation
Latest shipment date: 15 April, 2011
Documents to be presented within 21 days from shipment date but within the L/C validity.
The beneficiary effected shipment on 12 April and made a presentation to Bank N on 26 April, which is also understood as the expiry date or the last day for presentation.
Remark:
Nothwithstanding that the L/C expired on 26 April, Bank N still have five banking days following 26 April to determine whether the documents presented are complying. In this case, the deadline for Bank N to determine the compliance of the documents is Tuesday, 3 May (assuming 29 and 30 April are not banking days as they fall on Saturday and Sunday).
Best regards,
Mr. Old Man
anonymous
May 5, 2011 at 4:05 pm
Anonymous writes:Dear Mr Oldman,Pls help me in this case: In the signature box in BL have both following details:For and behalf of the MasterAs agent for the CarrierWhether I can raise a discrepancy? Because I read in phara 94 ISBP that only refer to the agent for the Master or the Carrier, not both at the same time (Not sure I understand well this case)
mroldmanvcb
May 5, 2011 at 10:05 pm
Hi,Your question does not make clear as to whether there is any pre-printed statement of signing. Please note that the superimposed text will override the preprinted text. For example, the pre-printed wording states “For and on behalf of the Master” and the superimposed notation shows “As agent for the carrier”. The superimposed “as agent for the carrier” will override the pre-printed “For and on behalf of the Master”.Please check the bill of lading again.For your reference, I quote herewith ICC Opinion TA684:QuoteAnalysis and final conclusion A superimposed stamp or other form of notation that provides evidence of the name and capacity of the party signing the transport document will supersede any pre-printed wording that may imply a different form of signing for that bill of lading. Provided the manner of signing the transport document meets the requirements of the respective transport article, the document will be acceptable. UnquoteHope it can be helpful.Best regards,Mr. Old Man
anonymous
May 6, 2011 at 8:05 am
Anonymous writes:Mr.Oldman ơi,Cảm ơn anh đã trả lời câu hỏi của em, nhưng trường hợp của em là cả 2 cụm từ: "For and behalf of the Master" và "As agent for the carrier" đều được in sẵn (pre-printed) trong form, nên em không biết xác định vai trò của người ký BL ở đây là gì? Theo em hiểu thì người ký chỉ là một trong những tư cách sau không biết có đúng không ạ:1. Đại lý cho người chuyên chở hoặc 2. Đại lý cho thuyền trưởng hoặc3. Là người chuyên chở hoặc4. Là thuyền trưởngEm đành trình bày với anh bằng tiếng Việt vậy, vì có thể em viết bằng tiếng Anh không hết được ý ạ.Anh giúp em với. Em cảm ơn anh nhiều.