WHEN THE INSURANCE DOCUMENT IS ISSUED MORE THAN ONE ORIGINAL

5 Comments

1. 

   anonymous

   November 11, 2011 at 11:11 am

   Anonymous writes:Dear Mr. Old Man,We, issuing bank, issued 01 LC stating the insurance cert. in F46 as follows:FULL SET OF INSURANCE POLICY COVERING INSTITUTE CARGO CLAUSE AINDICATING NUMBER OF ORIGINAL FOLDS ISSUED, BLANK ENDORSED AND SHOWING:+ NAME AND ADDRESS OF CLAIMS PAYABLE IN HANOI CITY, VIET NAM.+ CLAIMS (IF ANY) ARE PAYABLE IN THE SAME CURRENCY OF THE DRAFT.We received this insurance cert. with the contents:Survey agent: ABC INSURANCE CO., LTD 12 HAI BA TRUNG, HA NOI, VNSettling agent: ABC INSURANCE CO., LTDDescription: Commodity: White SpacyQuantity: 02 pcsINSTITUTE CARGO CLAUSE ATOTAL: 01 ORIGINAL AND 01 COPYClaims(if any) are payable in Ha Noi city, VietnamWe required “ NAME AND ADDRESS OF CLAIMS PAYABLE IN HANOI CITY, VIET NAM”. While the insurance cert. only shown: Claims(if any) are payable in Ha Noi city, Vietnam as above mentioned information.Whether we could consider this ins. have a discrepancy: Not showing the name and address of claims payable in Hanoi city, Vietnam or We must understand: settling agent =claims agent. Name and address were quoted at surrvey agent. Is this correct??Waiting for your soon replyTks & Brgds.,HTN

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2. 

   mroldmanvcb

   November 11, 2011 at 9:11 pm

   Document checkers should check documents with common sense. I tend to accept the document as in this particular case the survey agent and settling agent are one and the same agent, hence, the survey agent's address is also the settling agent's. There is no discrepancy.

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3. 

   anonymous

   November 15, 2011 at 11:11 am

   Anonymous writes:Thank you so muchBest regards.,

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4. 

   anonymous

   December 3, 2011 at 7:12 am

   ms old woman writes:hi mr. old man.need your opinion on the following.lc requires copy air waybill -original 3 shipper- to be presented and,and a benef, certificate that original air waybill was sent to th applicant. would you accept the original air waybill if presented instead of the copy.thanks for your comments.

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5. 

   mroldmanvcb

   December 4, 2011 at 7:12 am

   It is known that the AWB consists of 3 originals and 9 copies. Original 1 is for the carrier, Original 2 for the consignee and Original 3 for the shipper. It is also known that according to ISBP paragraph 31, where a credit calls for a copy of a transport document AND INDICATES THE DISPOSAL INSTRUCTIONS FOR THAT TRANSPORT DOCUMENT, an original transport document will not be acceptable". If the L/C calls for a copy of AWB Original 3 (for shipper) and indicates Original 3 to be sent to the applicant (as evidenced by a certificate), then Original 3 if presented will not be acceptable. If the L/C calls for a copy of AWB Original 3 (for shipper) and indicates Original 2 (for consignee) to be sent to the applicant (as evidenced by a certificate), then Original 3 if presented is acceptable. The question does not make clear as to which Original is requested to be sent to the applicant, i.e., the disposal instructions for the AWB in this case are ambiguous. The applicant bears the risk of any ambiguity in its instructions to issue the L/C (ISBP para 2). I would accept Original 3 if it is presented in this case. Best regards,Mr. Old Man

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