Uncategorized BENEFICIARY'S CERIFICATE DATE By Mr Old Man Posted on March 7, 2010 1 min read 4 0 2,661 Share on Facebook Share on Twitter Share on Google+ Share on Reddit Share on Pinterest Share on Linkedin Share on Tumblr QUERY FROM QUANG THUAN LC requires a beneficiary's certificate certifying that all documents have been sent to the applicant within 10 days after shipment date. No courier receipt or fax report is required for negotiation. Shipment date: 02/10/2007; Beneficiary presented on 15/10/2007.Must the beneficiary's certificate be dated in accordance with "within 10 days after shipment date"? ————————- COMMENT No. It is not necessary provided that the beneficiary's certificate, by its content, indicates that all the documents have been sent to the applicant within 10 days after shipment date.Also, please bear in mind that documents must not indicate that they were issued after the date they are presented. It is true that UCP does not have any concrete provisions on the question. But in order to further understand the matter, , . Thanks for your question. Best 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?