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Home Tag Archives: irrespective of percentage

Tag Archives: irrespective of percentage

Irrespective of Percentage vs. Deductibles – A Conflict in Insurance Documents under LCs

By Mr Old Man
September 2, 2025
in :  Mr Old Man, Payment, Q&A
0
45

One of the recurring issues in LC operations is how to handle insurance documents that contain both the phrase “irrespective of percentage” and a deductible clause. Traders often assume the “irrespective of percentage” wording will override the deductible, but under UCP 600 and ISBP 821, the story is different. Let’s look at a real case. __________ QUESTION Dear Mr. Old …

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Mr Old Man: Dear Kathryn, Thank you for your interesting question. First, banks do not conce...

Kathryn: Dear Mr. Old Man, May I seek your opinion on the following scenario? If goods ar...

Bill: And know your customer....

Mr Old Man: Thank you so much for your kind words. Rup...

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