The forum is dedicated to all who deals with LCs. Please share your experiences, problems and opinions with us. You are requested to be confined to LC related issues only. Let us together discover the beauty of Letter of Credit. Thank and regards – admin; besttradesolution.com
-
dholat
- Posts: 69
- Joined: Sun Oct 05, 2008 10:01 pm
Post
by dholat » Tue Nov 25, 2008 10:05 pm
dear all,
ISBP
A signature need not be handwritten. Facsimile signatures, perforated signatures, stamps, symbols (such as chops) or any electronic or mechanical means of authentication are sufficient.
if a BL only shows a round shape stamp in the box "Signed for the carrier", will it comply?
-
cristiand969
- Posts: 754
- Joined: Tue Aug 05, 2008 1:52 pm
- First Name: Cristian
- Last Name: D.
- Organization: Bank
- Filter: Two Plus Two =: 4
- Location: RO
Post
by cristiand969 » Wed Nov 26, 2008 3:01 pm
Dear Dholat,
According to ICC opinion, one should firstly make reference to UCP and failing to understand it shoud secondly refer to ISBP.
Article 3 of UCP is clear enough in this respect:
A document may be signed by handwriting, facsimile signature, perforated signature, stamp, symbol or any other mechanical or electronic method of authentication.
As per art. 20 of UCP 600, the wording BE SIGNED is clearly linked to the above article and document is the form described by you would be acceptable.
regards
Cristian
-
iLC
- Posts: 504
- Joined: Thu Jun 26, 2008 10:33 pm
Post
by iLC » Wed Nov 26, 2008 7:53 pm
im not sure whether i would go for the same opinion. i stamp can be a signature. but any stamp is not a signature. for example if a stamp shows "signed for the carrier ABC ...............authorized signature" i dont think i will accept that stamp as a signature. if a stamp includes something like a signature, then its ok. therefore a round shaped stamp is less likely to comply.
-
cristiand969
- Posts: 754
- Joined: Tue Aug 05, 2008 1:52 pm
- First Name: Cristian
- Last Name: D.
- Organization: Bank
- Filter: Two Plus Two =: 4
- Location: RO
Post
by cristiand969 » Wed Nov 26, 2008 8:01 pm
Dear ILC
Agree with your position but I was striclty referring to the main issue posted. On the other hand I am sure that you are well aware of art 38 of ISBP which says. The fact that a document has a box or space for a signature does not necessarily mean that such box or space must be completed with a signature
.
What I was referring to is the way the B/L is signed to be accepted under UCP 600.
regards
Cristian
-
shahriar
- Posts: 923
- Joined: Fri May 16, 2008 1:03 am
- First Name: Shahriar
- Last Name: Masum
- Organization: Mutual Trust Bank
- Filter: Two Plus Two =: 4
- Location: Bangladesh
Post
by shahriar » Wed Nov 26, 2008 8:17 pm
i have to refer one thing here. in FAQ V3 q3.6 where my collyer said
"provided the chop or stamp contains a signature, there is no need for the name of the person to appear nor any hand writing signature or name"
do u find this useful? hey im not taking anybody's side. just trying to put little me inside
regd
shahriar
-
cristiand969
- Posts: 754
- Joined: Tue Aug 05, 2008 1:52 pm
- First Name: Cristian
- Last Name: D.
- Organization: Bank
- Filter: Two Plus Two =: 4
- Location: RO
Post
by cristiand969 » Wed Nov 26, 2008 8:43 pm
Dear Shahriar,
Needless to say I understood you .. so don't worry about
.
I am not aware of that FAQ V3 q3.6 and the context the answer was posed and therefore I cannot place any comment.
Regards
Cristian