Uncategorized CLEAN or UNCLEAN ? By Mr Old Man Posted on January 20, 2011 1 min read 8 0 4,346 Share on Facebook Share on Twitter Share on Google+ Share on Reddit Share on Pinterest Share on Linkedin Share on Tumblr ________________________________________QUESTION FROM THAO________________________________________ Dear Mr Old Man, I’m facing a difficult case which I would like to ask for your opinion. We issued an L/C for goods ‘Low carbon steel wire rod’. B/L presented showed “Ship’s remark: All cargo atmospheric rusty” Can I raise the discrepancy: B/L showing defective condition of the goods as per Art27/UCP 600 I look forward to hearing from you soon. Thanks for your support in advance Regards,Thao _____________________________________COMMENT________________________________________ Dear Thao, Notwithstanding that for metal shipments, e.g., steel wire rods or steel coils, the carrier would normally insist the bills of lading be claused “rusty” or “atmospheric rusty”, the answer is YES (i.e., it's a discrepancy) unless the L/C allows the bills of lading to bear such clauses or notations. 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?