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Dear Colleagues,

Please, kindly help us with the following situation.

We are an issuing bank of a confirmed LC issued for a beneficiary in India. The beneficiary has presented originals to the confirming bank, and also a set of copies of all documents (including the copy of cover letter sent by the bnf bank to the confirming bank) were sent to the issuing bank. On the copy of cover letter it is also stated (written by hand) that the originals are sent to the confirming bank. The confirming bank has found some discrepancies and informed accordingly the presenting bank waiting for their further instruction.

So the question is as follows:
1.Is the set received by the issuing bank a real presentation? And should the issuing bank check them and inform about discrepancies within 5 days?

Many thanks in advance and best regards,
MarMur

Dear MarMur,

I think in your situation article 6a of UCP600 is applicable.
It is a real presentation and you have to check it within 5 days.

Best regards,
Simcorporate

Hi Pals,

copies or photocopies are not documents. IMHO it is not a presentation.
However I will send a refusal notice to avoid any disturbance.
Thinks confirming bank pays and issuing bank pays too. ehmmm.
Other comments appreciated
Ciao

picant wrote: ↑

Sun Sep 17, 2017 10:23 pm

Hi Pals,

copies or photocopies are not documents. IMHO it is not a presentation.
However I will send a refusal notice to avoid any disturbance.
Thinks confirming bank pays and issuing bank pays too. ehmmm.
Other comments appreciated
Ciao

Dear Ciao,

Sometimes copies or photocopies of documents can constitute
complying presentation if the conditions of the L/C allows such presentation.
Concerning the case discussed it is obvious discrepancy
if the credit requieres originals of documents
and issuing bank should send refusal notice to presenter.

Best regards,

Simcorporate

Regardless the documents are presented in copies or in original , the beneificary seems to have made a presentation.
So the key elements here are the following :
- has beneficiary presented his own cover letter claiming value reflected in documents or gives some instructions as to how to handle such presentation ?
- presentation is originally signed by beneficiary ?
I understand from the query that no benef's original cover leter presented and it goes that you do not have instructions how to handle the documents. If this is the case it is not a presentation and I require further instructions.

Dear Friend ,

your question needs a clarification ,

1-how the issuing bank knows that presentation has been made to confirming bank and found discrepant ? the confirming bank only inform the issuing bank of discrepancies based on beneficiary's request .
2-how is the originals (i.e. transport document) presented to the confirming bank and also to the issuing bank ?
.
as i understand only copies presented to issuing bank ,
you should issue mt734 refusing the presentation for the absence of originals .

regards