+/- 10% On Amount And Article 30(b) On Quantity

[SREEJA]

An LC states amount as approximately usd25000.The goods is mentioned 250mt of sugar.

My queries
1.since approx is mentioned amount an +/-10%

but since the goods are mentioned in quantity will +/-5% be applicable on goods and if applicable can the amount increase with the increase in goods ?

with all the discussions..this type of query has not been discussed

[harlanadinata]

Dear Sreeja, as per UCP art 30, for amount of LC has been stated with approximately, means that the amount of the LC can be drawn within 10 pct +/-, and the amount of goods in Metric Tons is allowed in 5 pct +/-
.
regarding your question, the amount increase can be followed with the increase in goods amount also, but the LC amount increase should not more than 10 pct, and the goods increase amount should not more than 5 pct.
.
Because the goods amount and the LC amount is toleranced separately, and since in Lc not described specific amount of tolerance, also abount the partial shipment allowed or not.

[mano]

hello,

yes you can combine 30a and 30b together

the % of tolerance as sub-article 30a will not prevent the +/- 5% of the quantity stated in sub-article 30b both can go up/down together but the drawing will not exceed the maximum credit amount and if the unit price is stated in the credit the document must state same unit price (in case no specific tolerance to price)

i can elaborate more if you wish

regards

[GUBAZ]

two dfferent tolerance can be applied in this L/C. applicamt can demand max 27.500 USD to ship min 237.5o MT sugars.