Mr Old Man Q&A DOES A STAMP CONSTITUTE A SIGNATURE? By Mr Old Man Posted on March 30, 2016 1 min read 13 0 5,466 Share on Facebook Share on Twitter Share on Google+ Share on Reddit Share on Pinterest Share on Linkedin Share on Tumblr QUESTION I have a question about Article 3, which says that a document may be signed by handwriting, facsimile signature, perforated signanture, STAMP, symbol or any other mechanical or electric method of authentication. What does “may be signed by …stamp” mean? Must it be a stamped version of a person’s signature or could it be a “company stamp” with no persons signature? Thanks ———– ANSWER Hi, Please refer to ICC Opinion R718 / TA691rev, which says “In terms of article 3, a stamp can act as a form of signature and its use would not in itself be a reason for refusal. However, the context of the use of the stamp is important and, in certain instances, the stamp may not qualify as representing signature of the issuer. If an issuing bank requires a “manually” signed commercial invoice, then that qualification must be inserted into the credit. Otherwise, a stamp may be valid”. Perhaps, no need for me to add any further comment! Kind regards, N.H. Duc
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?