Mr Old Man Q&A Uncategorized STAMP IN A LANGUAGE OTHER THAN THAT REQUIRED IN THE CREDIT By Mr Old Man Posted on September 7, 2013 2 min read 11 1 7,035 Share on Facebook Share on Twitter Share on Google+ Share on Reddit Share on Pinterest Share on Linkedin Share on Tumblr QUESTION Dear Mr. Old Man, LC required: • C/O Form E issued by Chamber of Commerce and Industry of Vietnam.• All documents are to be in EnglishC/O Form E presented was stamped with the chop bearing the name of the issuer in Vietnamese. Is it a discrepancy? Thank you. D————-ANSWER Hi, Please refer to ISBP 745 paragraph A21 (e), which says: “… the name of the person or entity, ANY STAMPS, legalization, endorsements or similar, and the pre-printed text shown on a document, such as, but not limited to, field headings, may be in a language other than that required in the credit”. In reply to a question regarding whether the bill of lading being signed and stamped with the stamp in Russian was discrepant, ICC opined that “Given that a Russian shipping line issued the bill of lading, it would not be unreasonable to expect that the evidence of the name of the company, by stamp, would be in Russian. Provided the document otherwise complied with the terms of the credit and Article 23 in the completion of the bill of lading, there would be no discrepancy (Opinion R564/TA522). In line with the above, C/O Form E stamped with the chop bearing the name of the issuer in Vietnamese is acceptable. 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?