Uncategorized ISBP PARAGRAPH 184; HOWEVER NAMED By Mr Old Man Posted on June 30, 2011 5 min read 3 0 2,730 Share on Facebook Share on Twitter Share on Google+ Share on Reddit Share on Pinterest Share on Linkedin Share on Tumblr QUERY FROM Hub Dear Mr Old Man, PLS answer my questions: 1. Related to ISBP 199 :"If LC requires a B/L to issued to order, to order of … or consigned to the issuing bank, the C/O may show APPL of the credit, or another party named THEREIN, as consignee." THEREIN, what does it mean? – that is who was stated in the credit or anyone? 2. And another question, I don't understand the word "HOWEVER NAME" in UCP 600, particularly Art 20 (a) A Bill of lading, however named….. What does it mean? IF on the face of the document, we determine and treat it as a B/L except the tittle " Charter party B/L". Can we apply Art 20(a) in this situation. Thanks for yr help. Good night! ————ANSWER Good morning Hub, 1) Regarding ISBP paragraph 199 in ISBP 645, please note that it is now paragraph 184 in ISBP 681. “ANOTHER PARTY NAMED THEREIN” in this paragraph should be understood as “ANOTHER PARTY NAMED IN THE L/C”. 2) Regarding the meaning of “however named”, I have ever answered a question similar to yours. See below: QuoteIt is noted that the words “however named” appears in the first sub-article of UCP 600 articles 19 -24. It is understood from “however named” that it is not the name or the title of the document that is important. What is important is that the content of the document must comply with the LC terms and conditions of and provisions of UCP 600. A Multimodal Bill of Lading is acceptable under an LC which calls for a bill of lading covering a port-to-port shipment provided that it is complying with the LC terms and conditions and the provisions of Article 20. Similarly, Forwarders Bills of Lading are also acceptable under an LC which calls for a bill of lading covering a port-to-port shipment. Yet, in this case, the forwarder must sign as agent or on behalf of a named carrier (or master). My above interpretation is based on ICC Opinions R219, R230, R456, TA651rev …Unquote The L/C requirement and the details stated in the B/L will decide which article (19, 20 or 22) is applicable: If the L/C requires presentation of a charter party B/L or if a credit allows presentation of a charter party B/L and a charter party B/L is presented, UCP 600 article 22 is applicable. If the L/C requires presentation of a transport document covering transportation utilizing at least two modes of transport (multimodal or combined transport document), and if the B/L clearly shows that it covers a shipment from the place of taking in charge or port, airport or place of loading to the place of final destination mentioned in the L/C, UCP 600 article 19 is applicable. If the L/C requires presentation of a bill of lading ("marine", "ocean" or "port-to-port" or similar) covering sea shipment only, UCP 600 article 20 is applicable. 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?