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WHERE ALL ORIGINAL BILLS OF LADING MUST BE PRESENTED

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QUESTION

A credit requires the presentation of ‘3 / 3’ (that is, three of three) original multimodal transport documents. The presented document indicates that four originals have been issued. The beneficiary has presented three originals. The nominated bank has refused the documents for the absence of one original multimodal transport document. The beneficiary is arguing that the credit required only three originals to be presented. Whose position is right?

Sam

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ANSWER

Hi,

According to Article 20, A bill of lading must appear to bee the sole original bill of lading or, if issued in more than one original, be the full set as indicated on the bill of lading.

According to ISBP 745 A29, the number of originals to be presented is to be at least the number required by the credit or UCP 600;  when a transport document or insurance document indicates how many originals have been issued, the number of originals stated on the document is to be presented, , except as stated in paragraphs H12 (regarding Air Transport Document) and J7.c (regarding Road, Rail or Inland Waterway Transport Document).

 

So, a  bill of lading should indicate the number of originals that have been issued. All original bills of lading  stated on the bill of lading must be presented to the bank by the beneficiaries.

Kind regards,

Mr. Old Man

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