Query on installment shipments

[heresvijay]

Hi,
LC prohibits partial shipment. As per the l/c full value of goods shipped and docs were presented to the issuing bank thr' a nominated bank. Later, the l/c amount and quantity of goods increased by an amendment. Two Shipment schedules are given for the increased quantity of goods only in the amendment, not in the l/c.

Question is, if next set of docs were presented, do the doc checker has to quote a discrepancy 'partial shipment effected'? Is it a valid one? is the partial shipment not to be effected within the shipment schedules?

Your views are welcome.

ALL THE VERY BEST TO ALL FOR THE CDCS EXAM!!!

RGDS,
VJ

[shahriar]

in my opinion, when there is a given schedule, the partial shipment for the entire LC is no more a issue. however if partial shipment is prohibited, it will be still applicable for the installments depending on the language of the credit.

[loankim]

Hi all,

Docs presented to the issuing bank before the amend advised, so the terms of the amend may not have been applicable to that drawing.
If next set of docs were presented, it means the amend has been accepted and the doc checker has not to quote such discrepancy.
Unlike the partial shipments, the Installment shipments allow shipments to divide products but according to the dates and the quantities stated in a credit terms. I agree with shahriar that Installment shipment always includes partial shipment, so giving the schedule is equal to allow partial shipment though it isn't mentioned in the amend.

rgds,

[heresvijay]

I acknowledge your valid points.
thanks.