ARTICLE 16

rania · Post by **rania** » Wed Apr 01, 2009 11:34 pm

DEAR ALL,
What is meant by sub-article 16(c)iii d) that the bank is acting in accordance with instructions previously received from the presenter.

RGDS.

jmitra · Post by **jmitra** » Thu Apr 02, 2009 7:15 pm

consider a nominated bank found a discrepancy in a presentation and informed the beneficiary. the beneficiary ask the bank to forward the document. in that case the nominated bank may note some instruction on the covering schedule.
example -

in observance of discrepancy please advice us and communicate the applicant for waiver
in observance of discrepancy please advice us and hold the document
in observance of discrepancy please advice us and return the document etc.

fionawang · Post by **fionawang** » Mon Apr 06, 2009 5:33 am

Actually, the situation you mentioned all in iii.a) b) c), therefore I don't know why d) exist? It's non sense.

shruti · Post by **shruti** » Mon Apr 06, 2009 7:15 am

Dear Fionawang & Rana

sub-article 16(c)iii d) that the bank is acting in accordance with instructions previously received from the presenter.
the situation may be covred by UCP art 16c(iii) a , b , c , but here the bank is acting also on instructions of presnting bank.
there is mutual consent. this has to part of MT734 or similar document.
hope , this makes sense

kalra n k

ARTICLE 16

ARTICLE 16

an example

?

article 16c d (iii)