Uncategorized SIGNED WITH A CHOP BEARING COMPANY NAME; CORRECTED DOCUMENTS RE-PRESENTED By Mr Old Man Posted on March 16, 2010 4 min read 0 0 2,312 Share on Facebook Share on Twitter Share on Google+ Share on Reddit Share on Pinterest Share on Linkedin Share on Tumblr QUERY FROM PVNSubject: query about docs' issuer Dear Mr Duc, There is a discussion in my office relating to the docs’ issuer and could you pls give us yr judgment. I attach herewith the certificate of quality, which is required in the LC to be issued by manufacturer. In paragraph 40, ISBP, they only mention the case that the company name needn’t to be repeated beside the signature in case that the docs are issued with the letterhead. but what if there is no letterhead, does company name need to be mentioned? As you can see in the attached CQ, it hasn’t a letter head and the company name isn’t shown in the doc. The name of manufacturer doesn’t appear in any other documents as well as in the LC. The seal is in Chinese so we can’t identify the manufacturer. So does this constitute a discrepancy? Another query is that we sent presenter advice of refuse, in which we stated all the discrepancies, 6 working days later they presented another set of corrected documents to replace all documents containing the stated discrepancies. The later documents were presented within the period for presentation. So can we refuse to honor the docs and charge the presenter discrepancy fee? When you have time, could you pls give us yr precious advice. Thanks and best regards,PHAM VIET NGA —————– COMMENTTo: [email protected]Subject: Comments to your query Dear PVN, Re: Certificate signed with a chop bearing the company name; Corrected documents re-presented within expiry date and/or period for presentation. Thanks for your questions. 1) I have checked the certificate of quality and I see that the certificate is dated and signed by the issuer in the capacity of manufacturer with a chop containing the company name (though in Chinese), hence, it satisfies the condition that the document is to be issued by a named person or entity (ISBP para. 22). Perhaps, you would feel more comfortable if the manufacturer name in the chop were in English. You may know that in some Asian countries like China, Korea, Japan … people would use chops as signatures on documents, contracts, artwork, etc. This practice has been adopted by ICC: ISBP para. 39 says that a signature need not be handwritten. Facsimile signatures, perforated signatures, stamps, symbols (such as chop) … are sufficient; ICC Official Opinion R337 says a chop constitutes a signature. 2) No. Your bank must honour if the corrected documents are re-presented within the LC expiry and/or period for presentation specified in the LC (ICC Official Opinions R242 and R324). I hope the answer can help you. Best regards,Mr. Old Man (Nguyen Huu 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?