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Information To Instruct The Advising Bank

Posted: Fri Aug 18, 2017 6:45 pm
by vampiremind
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

Field 46

Posted: Sat Aug 19, 2017 1:09 pm
by picant
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

Posted: Sun Aug 20, 2017 3:52 pm
by vampiremind
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

Yes...

Posted: Mon Aug 21, 2017 11:58 pm
by picant
Hi Pal,

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