Using Word Like Upto I/O Partial Shipment Allowed In LC
Posted: Sat Jul 26, 2008 9:58 am
dear all,
recently a topic on the forum has been posted related to partial shipment which caused some confusion to some of the members. personally i never like this provision. it just make the system complicated. there are many other ways to achieve this goal. as suggested by many scholars including the "Jia Hoa", the word "upto" can give the same benefit. i think if the issuing bank had used that words in the letter of credit instead of partial shipment allowed, the confusion would not have raised. looking for comments on this.
iLC
recently a topic on the forum has been posted related to partial shipment which caused some confusion to some of the members. personally i never like this provision. it just make the system complicated. there are many other ways to achieve this goal. as suggested by many scholars including the "Jia Hoa", the word "upto" can give the same benefit. i think if the issuing bank had used that words in the letter of credit instead of partial shipment allowed, the confusion would not have raised. looking for comments on this.
iLC