Mr Old Man Q&A WHERE A VIRGULE (/) IS USED By Mr Old Man Posted on June 1, 2015 2 min read 0 0 3,071 Share on Facebook Share on Twitter Share on Google+ Share on Reddit Share on Pinterest Share on Linkedin Share on Tumblr QUESTION Hi Mr. Old Man, I have a question that needs your comment. LC stipulates: B/L MUST SHOW GROSS/NET WEIGHT PER CONTAINER B/L presented only shows GROSS WEIGHT. The issuing bank raises the discrepancy “B/L DOES NOT SHOW NET WEIGHT PER CONTAINER” Is the discrepancy valid? Thank you! TV ————– ANSWER Hi, The discrepancy is not valid. A virgule (i.e., slash mark (/) may result in different meanings and should not be used as a substitute for a word. Where a virgule (/) is used in the LC with no further clarification, it allows the use of one or more options. For example, if LC states “Red/Black/Blue” with no further clarification, the documents may show only Red or only Black or only Blue or any combination of them. In your specific case, the B/L may show only gross weight per container or only net weight per container. If the applicant or the issuing bank wishes to receive a B/L showing both gross weight and gross weight per container, it should expressly stipulates in the LC as follows: B/L MUST SHOW GROSS AND NET WEIGHT PER CONTAINER Please refer to ISBP 745 paragraph A2) a. Kind 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?