Uncategorized IS A PHOTOCOPY A COPY? By Mr Old Man Posted on December 2, 2010 2 min read 1 0 2,452 Share on Facebook Share on Twitter Share on Google+ Share on Reddit Share on Pinterest Share on Linkedin Share on Tumblr QUERY FROM DR. MAXCIM VAS________________________________________ Hello Mr Old Man, I hope you are doing fine ! First and Formost, i will like to thank you for all your Informations and Helps whenever i come to you with Questions. Now, I will like to have your Profession Advice / Explanation on the Issue below : (1) When an L/C Calls for Documents, for Example : 3/3 Original Ocean Bill of Lading and 2 Non-Negociable Copies / or 2 Copies. Does this mean that the 2 Copies that is Requested, will have to be PHOTOCOPIES of the Originals ??? .. i know that the 3/3 Original is the 3 Full Sets of Bill of Lading that was Issued… But what is the Meaning of the 2 Copies Requested…, Does it mean that 2 PHOTOCOPIES of the Bill of Lading Has to be Made and Attached along with the 3 Original Sets ??? I look forward to your Professional Answers. regards,Dr. Max ________________________________________ANSWER FROM MR. OLD MAN ________________________________________ Hi Dr. Max, If LC calls for 3/3 original Bills of Lading and two copies, a presentation of 3/3 original Bills of Lading plus two photocopies of the original Bill of Lading is acceptable. Two copies in this case is understood as two photocopies. 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?