Uncategorized ADDITIONAL NOTIFY PARTY AND THE NAME OF THE COUNTRY IN TRANSPORT DOCUMENTS By Mr Old Man Posted on December 22, 2014 2 min read 6 0 3,260 Share on Facebook Share on Twitter Share on Google+ Share on Reddit Share on Pinterest Share on Linkedin Share on Tumblr Father and Daughter QUESTION Dear Mr. Old Man, I read ISBP 745 and feel confused with some articles. Please help me to clarify them: Paragraph D18 (a) say: “When a credit stipulates the details of one or more parties, a multimodal transport document may also indicate the details of one or more additional notify parties”. What if the credit stipulate only one notify party but the MMTD indicates two notify parties: one stated in the credit and an additional one not stated in the credit? Paragraph D9: Why need not the name of country be stated? Thank you so much for your reply. I appreciate your help. Do Do ————————- ANSWER Hi, What I understand from paragraph D18 (a) is that a MMTD may indicate one or more notify parties in addition to the notify party required in the credit. There is no discrepancy. This principle also applies to other transport documents including bill of lading, non-negotiable sea waybill, charter party bill of lading … ICC has many times explained in their official opinions that there is no requirement in the UCP or international standard banking practice for the country name to appear against a stated city shown as the place of receipt, port of loading, port of discharge or place of delivery. Absence of the country name is not a reason for refusal, notwithstanding that such words are stated in the credit. The above opinion has been incorporated into ISBP 745. Kind regards, 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?