Uncategorized A FULL SET OF BILLS OF LADING MEANS A FULL SET OF ORIGINAL BILLS OF LADING By Mr Old Man Posted on September 14, 2013 2 min read 1 0 15,648 Share on Facebook Share on Twitter Share on Google+ Share on Reddit Share on Pinterest Share on Linkedin Share on Tumblr QUESTION LC requires: Full set 3/3 of clean shipped on board ocean bills of lading made out to order of the issuing bank notifying the applicant. The LC does not make clear if it requires presentation of original bills of lading. So, are copy BLs presented acceptable? ———— ANSWER Hi, The question is very interesting, but I am afraid not. A full set of bills of lading means a full set of ORIGINAL bills of lading. So, a full set of ORIGINAL bills of lading must be presented to comply with the LC requirement. Please refer to paragraphs A 29 (a) and (b) which read as follows: QUOTEA29) a. The number of originals to be presented is to be at least the number required by the credit or UCP 600. b. When a transport document or insurance document indicates how many originals have been issued, the number of originals stated on the document is to be presented, except as stated in paragraphs H12) and J7) (c). UNQUOTE NOTES:H12) An air transport document is to appear to be the original for consignor or shipper. When a credit requires a full set of originals, this is satisfied by the presentation of an air transport document indicating that it is the original for consignor or shipper. J7) c. Presentation of the original for consignor or shipper (copy for sender) of a road transport document or duplicate rail transport document shall suffice even when the credit requires presentation of a full set of the relevant transport documents. Nice weekend.Mr. Old Man
IS THE NOMINATED BANK REQUIRED TO VERIFY WHETHER THE BENEFICIARY HAS AUTHORIZED THE PRESENTING BANK TO PRESENT THE DOCUMENTS?
CAN THE ISUING BANK CITE “LATE PRESENTATION” AS A DISCREPANCY SOLELY BASED ON THE DATE OF THE COVER LETTER?
IS THE NOMINATED BANK REQUIRED TO VERIFY WHETHER THE BENEFICIARY HAS AUTHORIZED THE PRESENTING BANK TO PRESENT THE DOCUMENTS?
CAN THE ISUING BANK CITE “LATE PRESENTATION” AS A DISCREPANCY SOLELY BASED ON THE DATE OF THE COVER LETTER?