Information To Instruct The Advising Bank

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vampiremind
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Information To Instruct The Advising Bank

Post by vampiremind » Fri Aug 18, 2017 6:45 pm

our privet bank has been informed by the local gov central bank when issuing a L/C to instruct the beneficiary to provide the follwing print on all boxes containg its item:
(confirm that applicant's name , L/CREDITS, product components , their production date which have to be recent, and actual expiry date must be labeled on all carton-boxes containing the items')

my question is on which field to add this clause when issuing the letter of credit on MT 700

thanks

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picant
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Field 46

Post by picant » Sat Aug 19, 2017 1:09 pm

Hi Pal,

I think that the only document that you can require, in field 46, is:
-Beneficiary declaration that all carton-boxes, containing the items, have been labelled with applicant's name, l/credits no. product components, their production date and expiry date(min. 3 mths, 1 years fm date od shipment......).
considering art 34 UCP 600 too.
If necessary an independent agency or a carrier agent may issue a similar declaration to enforce it.
Other comments appreciated. Ciao

vampiremind
Posts: 6
Joined: Thu Aug 17, 2017 1:44 pm
First Name: mode
Last Name: user
Organization: banking
Filter: Two Plus Two =: 4
Location: libya

Post by vampiremind » Sun Aug 20, 2017 3:52 pm

thanks for your prompt reply
do you mean that I have to add another item under field 46A requesting the beneficiary to allow this condition to be made when preparing doc's and dispatching the goods
thanks

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picant
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Yes...

Post by picant » Mon Aug 21, 2017 11:58 pm

Hi Pal,

remember that banks check documents but have no liability about the action of seller.
Ciao

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