by Old Man on Saturday, September 17, 2011 at 7:35am
QUERY FROM GABRIEL
LC requires a certificate of vessel's tank cleanliness. Beneficiary presents a document with exactly the same title, showing content as follow:
Quote
Method of Cleaning : No tanks cleaning was carried out.
Unquote
Is this document complying? Noting sub-article 14(f), the question is whether its content appears to fulfil the function of the required document. Can I have your view please?
Regards,
Gabriel
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COMMENT
Hi,
This reminds me of the case where the L/C called for a certificate of quality and the presented certificate of quality presented stated that the goods were of poor quality. As the L/C did not provide any detail as to the wording and or specific content that the certificate should give, the presented certificate was acceptable under sub-article 14(f) notwithstanding such a statement.
Yours is the same as the above case. There is no discrepancy.
Best regards,
N.H.Duc
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PAUL
May 23, 2018 at 3:21 am
Mr Odl Man
I have a query regarding provisional Invoice.
LC calls for 95% of Provisional Invoice value with LC amount at say USD100.
Partial shipment not allowed and amount tolerance of plus/minus 5% allowed as well. Final invoice allowed at later stage.
Presented provisional invoice shows amount at say USD94 and 95% at USD89.30
Is it credit amount underdrawn for this case? Pls Advice
My personal opinion is that it is not as it is a provisional invoice. LC amount short-drawn can only be determined only if final invoice is presented.
Mr Old Man
June 26, 2018 at 6:54 am
Short drawn. The tolerance must not exceed 5% of the L/C amount. Provisional invoice amount must be any amount from USD 95 up to USD 105.