Articles Discovery on the cycling road Q&A WHERE C/O HAS NO SIGNATURE BUT A REFERENCE TO A WEBSITE FOR AUTHENTICATION By Mr Old Man Posted on January 23, 2017 1 min read 2 0 2,528 Share on Facebook Share on Twitter Share on Google+ Share on Reddit Share on Pinterest Share on Linkedin Share on Tumblr QUESTION Dear Mr. Old Man, I would be grateful if you could give me advice in this case: The C/O presented under Import LC is not signed but refer to clause: “For certifying authority use only VERIFY URL:HTTP://WWW.CO-CCPIT.ORG” So this clause satisfy the requirement of signature or not? I look forward to hearing from you soon, Ha Thu Hang ———– ANSWER Dear Hang I think the c/o is acceptable based on ISBP 745 A35(d), which says “ A statement on a document indicating that authentication may be verified or obtained through a specific reference to a website (URL) constitutes a form of electronic method of authentication in accordance with the signature requirements of UCP 600 article 3. Banks will not access such websites to verify or obtain authentication”. The statement ““For certifying authority use only VERIFY URL:HTTP://WWW….CCPIT.ORG”, though not clear enough, should be deemed to satisfy the signature requirements of UCP 600 Article 3. 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?