Hi everyone,
i am seeking for an answer for an issue as follows, hoping to receive yr help. Thank you.
A L/C calls for "Cert of Quality issued by manufacturer in 3 copies".
(no further information about manufacturer stipulated in L/C)
The docs presented in 3 copies, duly signed by Company A on his letter head. The issuing bk cites discrepancy: "Cert of Qlty issued by Company A not identified as manufacturer"
Is the discr. reasonable?
"when a credit does not indicate the name of an issuer, any entity including the beneficiary may issue a certificate", so i think the discr. is not valid. But my boss don't think so, she accepts the cert to be issued by any entity but the issuer must identify himself "as manufacturer" on the document.
Thanks.
Certificate Of Quality Issued By Manufacturer
-
JAN2111
- Posts: 1
- Joined: Thu Jun 19, 2014 8:17 am
- First Name: DANG
- Last Name: DAN
- Organization: EXIMBANK
- Filter: Two Plus Two =: 4
- Location: VIET NAM
-
ShikhaAggarwal
- Posts: 5
- Joined: Mon Jun 09, 2014 11:51 pm
- First Name: Shikha
- Last Name: Aggarwal
- Organization: Bank of America
- Filter: Two Plus Two =: 4
- Location: India
Cert. of Quality issued by manufacturer...
Hi JAN,
The discrepancy quoted by the issuing bank is a valid discrepancy as when LC asks for the manufacturer as the issuer of the document anywhere on the document the issuer should be identified as manufacturer or on any other document of the presentation.If this is not there then the document calls for the discrepancy quoted by the issuing bank as per my opinion.
Regards
Shikha Aggarwal
The discrepancy quoted by the issuing bank is a valid discrepancy as when LC asks for the manufacturer as the issuer of the document anywhere on the document the issuer should be identified as manufacturer or on any other document of the presentation.If this is not there then the document calls for the discrepancy quoted by the issuing bank as per my opinion.
Regards
Shikha Aggarwal
-
mani
- Posts: 48
- Joined: Sun Oct 30, 2011 10:35 am
- First Name: mani
- Last Name: nair
- Organization: student
- Filter: Two Plus Two =: 4
- Location: india
Certificate of quality
Hi,
As per LC requirement, the certificate of quality should be issued by the manufacturer(entity) which may be third party or beneficiary itself. As for as doc checker concern, the word the manufacture should be identified on the said document or any of the documents presented along with the certificate of quality so that they can link the entity with the name as manufacturer. even though beneficiary is a manufacturer.
As per ISBP745 paragraph Q3 states " A certificate is to be issued by the entity stated in the credit"
Others comments are highly appreciated.
Regards
Vijay
As per LC requirement, the certificate of quality should be issued by the manufacturer(entity) which may be third party or beneficiary itself. As for as doc checker concern, the word the manufacture should be identified on the said document or any of the documents presented along with the certificate of quality so that they can link the entity with the name as manufacturer. even though beneficiary is a manufacturer.
As per ISBP745 paragraph Q3 states " A certificate is to be issued by the entity stated in the credit"
Others comments are highly appreciated.
Regards
Vijay