Fact:
Credit:
Field 39A: 10/10
Field 45A:
Product: X, Quantity: 50 MT Unit price: USD1.00 per MT Total: 50 MT.
Partial Shipment: Prohibited.
Discussion of Two LC Experts:
Expert one: Well, I think beneficiary can make shipment upto 55 MT for total credit amount USD55.00.
Expert Two: Well, I think you are correct, but if we consider ICC official opinion R 365:
You can not make tolerance to quantity.. what do you think?“The absence of such words against any or all does not afford the beneficiary a tolerance in respect of that particular credit term.”
Expert one: Well, That a tricky part, But you can not ignore, the quantity is not in Packing unit or individual item and therefore can not ignore sub article 30 (b) as well. What do you think?
Expert Two: Thanks, its sound logical…. But sub article 30 (a) didn’t refer to any situation [neither individual or packing unit not bulk quantity], hence this opinion can come forward as argument from any part.
Expert One: Yes, I do agree…we better left it for forum to resolve?
Regards
Nesar