Mr Old Man Payment Q&A EXAMPLES TO ILLUSTRATE SUB-ARTICLE 30 (b) By Mr Old Man Posted on February 16, 2013 3 min read 8 0 4,665 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, I’ve found your answer concerning sub-article 30 (c) UCP 600 very useful. I urgently need some detailed examples of the same article but for sub-article (b). namely…. provided the credit does not state the quantity in terms of: – a stipulated number of packing units; or – individual items. Pls give some examples (10,000 kg ,100 MT, 100 cars, 120 bales, 100000 envelopes) and many others. Are they related to countable and uncountable nouns or what? Thanks Pitman Indonesia ——————- ANSWER Hi, Firstly, you need to differentiate what types of quantity or goods are considered as individual items or packing units and what types of goods are not individual items or packing units. Example (1): 2000 hand watches, 1500 computers, 100 cars… are types of individual items. Example (2): 12,000 boxes, 1000 pallets, 5,000 bales, 500 barrels… are considered as types of packing units. Example (3): 10,000 MT of urea fertilizer, 15,000 gallons of oil, 5,000 MT of rice… are not types of individual items or packing units. Sub-article 30(b) does not apply to the case where the quantity is stated in terms of a stipulated of packing units or individual items as explained in example (1) and example (2) above. It applies to the situation where the quantity of goods is subject to cubic or weight measurements like cubic meters, gallons, kilograms, metric tons… as explained in example (3). In this situation the beneficiary may ship up to 5% less or 5% more than the stipulated quantity provided the total amount of drawings does not exceed the L/C amount. LAST BUT NOT LEAST Individual items like hand watches, computers, cars, envelopes… are countable nouns. Oil, bitumen… are unaccountable nouns, but they become countable nouns when referred to as barrels of oil, barrels of bitumen. Best regards, Mr. Old Man ————- THANK YOU MAIL FROM PITMAN Dear Mr. Old Man, Thank you very much indeed for your explanation. Because sub-article 30 (b) and (c) has been the most difficult all over UCP 500 and 600 for me and most of people involved in UCP. Now, it is no longer. Thank you again. Pitman Bandung Indonesia
IS THE NOMINATED BANK REQUIRED TO VERIFY WHETHER THE BENEFICIARY HAS AUTHORIZED THE PRESENTING BANK TO PRESENT THE DOCUMENTS?
IS THE NOMINATED BANK REQUIRED TO VERIFY WHETHER THE BENEFICIARY HAS AUTHORIZED THE PRESENTING BANK TO PRESENT THE DOCUMENTS?