Articles Mr Old Man Q&A A DOCUMENT COVERING MORE THAN ONE FUNCTION MAY BE PRESENTED AS SEPARATE DOCUMENTS By Mr Old Man Posted on 1 week ago 3 min read 0 0 88 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, Please help me with this case: The L/C requires the following document: “Certificate of Antibiotic and Chemical certified by NAFIQAD” We presented two separate documents: Certificate of Antibiotic Certificate of Chemical However, the bank refused the documents, stating that they should have been presented as a single document instead of two separate ones. Please provide us with a valid reason to dispute the issuing bank’s refusal. Thanks and regards. Have a good day! Q. ——- ANSWER Dear Q., No need to worry! Your presentation is acceptable under ISBP guidelines. A requirement for a Certificate of Antibiotic and Chemical can be fulfilled in either of the following ways: By presenting a single document as required by the L/C. By presenting separate certificates (one for Antibiotic and one for Chemical), provided that: Each document fulfills its function as required. They are presented in the correct number of originals and copies as per the L/C. This is clearly stated in ISBP 821, Paragraph A41: QUOTE A document required by a credit that is to cover more than one function may be presented as a single document or as separate documents that each fulfill their respective function. For example, a requirement for a Certificate of Quality and Quantity can be satisfied by: A single document covering both Quality and Quantity Two separate documents: one for Quality and one for Quantity, as long as each document meets its function and complies with the L/C requirements regarding the number of originals and copies. UNQUOTE Therefore, the issuing bank’s refusal is unjustified, and you have valid grounds to dispute their decision. 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?