Uncategorized DOCUMENTS ISSUED BY COMPETENT AUTHORITY By Mr Old Man Posted on January 4, 2013 2 min read 4 0 5,009 Share on Facebook Share on Twitter Share on Google+ Share on Reddit Share on Pinterest Share on Linkedin Share on Tumblr Dear All, Please find below another Q&A on the case where documents are required to be issued by competent authority. This is from DCPro Forum. What’d you think? Best regards,Mr. Old Man————–QUESTION ARTICLE 3 UCP 600 JOEE – MaltaPosted 03 Jan 13 | May I kindly solicit your expert opinion on a technical issue. A letter of credit calls for two documents to be "issued and signed by the competent authorities in the C.O.O". The relative documents were presented duly issued by the supplier but bearing a clause affirming that "shipper/consignor/supplier as supplier X for and on behalf of Beneficiry Y". (it is a b/b trans). Would such a clause on these docs, albeit issued by the supplier, infringe article 3 of the UCP600? I thank you Joee Malta ————— ANSWER N.H.Duc – Viet Nam Posted 03 Jan 13 | Hi, Agreed with Jeremy. It is understood from Article 3 UCP 600 that if the L/C requires a document to be issued by a competent authority, any party except the beneficiary can issue that document. The document issued by the supplier on behalf of the beneficiary is considered to be issued by the beneficiary, hence, it contradicts Article 3 UCP 600. Regards,N.H.Duc P/s: Article 3 UCP 600 is attached for convenient reference: Terms such as "first class", "well known", "qualified", "independent", "official", "competent" or "local" used to describe the issuer of a document allow any issuer except the beneficiary to issue that document.
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?