Mr Old Man Q&A WHERE A CERTIFICATE MUST FULFIL ITS FUNCTION By Mr Old Man Posted on December 18, 2018 1 min read 0 0 2,678 Share on Facebook Share on Twitter Share on Google+ Share on Reddit Share on Pinterest Share on Linkedin Share on Tumblr QUESTION Dear Mr Old Man, LC requires: Certificate of Quality and Quantity. Certificate of Quality and Quantity is presented showing quality but not quantity of goods. Can we raise the discrepancy “Certificate of Quality and Quantity not showing quantity of goods”? Looking forward to receiving your soon reply. Thank you. LC ——— ANSWER Hi, According to ISBP 745 Q 1, when an LC requires the presentation of a certificate of analysis, inspection, health, quantity and quality or other certificates, this will be satisfied by the presentation of a signed document titled as called for in the LC, or bearing a similar title or untitled, that fulfils its function by certifying the outcome of the required action, for example, the results of the analysis, inspection, health, phytosanitary, quantity or quality assessment. The presented certificate of quality and quantity bears the same title as called for in the LC but does not indicate the quantity of goods. Therefore, it is deemed not to fulfil its function as per ISBP 745 Q 1. You can raise the discrepancy. 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?