Dear all,
If several presentation is made, then as per ICC, anyone can be rejected without affecting the others. will this same rule apply even when the covering letter show a consolidated drawing amount for all the sets of document presented under it?
multiple presentation under one cover
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shahriar
- Posts: 923
- Joined: Fri May 16, 2008 1:03 am
- First Name: Shahriar
- Last Name: Masum
- Organization: Mutual Trust Bank
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- Location: Bangladesh
i think yes
i think the rule apply even when the covering schedule shows the consolidated amount. consider ICC opinion TA 581rev
Where multiple presentations are made on the same day under the same L/C, a presenter would be well advised to create individual schedules in order to avoid any potential delays in situations where some presentations comply and others do not.
Where more than one complete presentation of documents is made under one cover letter or schedule for the full amount of all the presentations, the presenter should be advised of the discrepancies in respect of the presentation(s) that do not comply. An issuing bank or nominated bank may request the beneficiary or presenter to provide agreement for the settlement of individual amounts for those presentation(s) that do comply. This does not negate the issuing or confirming bank's obligation to honour the presentation(s) of documents that do comply