Uncategorized UCP 600 SUB-ARTICLE 14(f) By Mr Old Man Posted on September 1, 2011 2 min read 9 0 8,824 Share on Facebook Share on Twitter Share on Google+ Share on Reddit Share on Pinterest Share on Linkedin Share on Tumblr QUERY FROM A Dear Mr. Old Man, I would highly appreciate your comment on the following case:L/C required under F 46A: Certificate of quality in 3 originals.Certificate of quality is presented in 3 originals as required. However, it contains a statement that the quality is not fit for human consumption.Is it a discrepancy? Can we reject the document based on this statement or just inform the applicant of the fact?Best regards, A——————- ANSWER Hi, Please refer to sub-article 14(f) which reads: “If a credit requires presentation of a document other than a transport document, insurance document or commercial invoice, without stipulating by whom the document is to be issued or its data content, banks will accept the document as presented if its content appears to fulfill the function of the required document and otherwise complies with sub-article 14 (d)”. It is understood from your description that the L/C did not provide any detail as to the wording or specific content that the certificate of quality should give. Therefore, the checking of the said certificate would fall under the support of the above article. There is no discrepancy. 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?