Few Recent ICC Opinion On UCP600 FYI

[shahriar]

TA 652rev -
Letter of credit calls for a certificate of origin from a local chamber of commerce. Does "local chamber of commerce" mean local where the beneficiary is or local where the product originates?

Answer
The answer to this question lies in the content of an interpretation provided in article 3 of UCP 600. Therein it is stated "Terms such as 'first class', 'well known', 'qualified', 'independent', 'official', 'competent' or 'local' used to describe the issuer of a document allow any issuer except the beneficiary to issue that document." Applying this interpretation in the context of this query, any chamber of commerce may issue the certificate of origin.


TA 644rev
A letter of credits received include a condition stipulating details of transport to and from and latest shipment date, but without stipulating the requirement for presentation of a document indicating compliance with the condition. Are such condition(s) non-documentary?

Answer
Details such as the places, ports or airports from which the goods are to be shipped from and to and the latest shipment date may be disregarded for the purpose of determining a complying presentation and need not be stated in any other stipulated document presented.
However, the data in the other stipulated documents will still be subject to review under sub-article 14 (d) to ensure that any data is not conflicting with the data in the credit. According to sub-article 14 (h), banks will deem a non-documentary condition as not stated (on the basis that there is no necessity for the beneficiary to provide any evidence of compliance) and will disregard it. Should the beneficiary, nevertheless, elect to insert such data on any other stipulated document, then it must ensure that the data does not conflict with the data in the credit.

[cparial]

Thanks for keeping us updated.