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dear all,

today i received a LC which is drafted in SWIFT MT 700 format but is send via mail. will the SWIFT rule apply? i think no. whats your opinion?

regd

shahriar

PAY ATTENTION!!
As long as the LC in question is not sent via swift where there are validating rules and establishing authenticity of such instrument you cannot relay on swift rules to be applicable. Furthermore, i assume the field 40E is at least UCP LATEST VERSION (translated by swift UCP600). Unless the credit specifically states that is subject to UCP 600 you have no applicable rule.
One more point: You said the LC is in format swift. How's then the receiver of that swift?
regards
Cristian

Hi Pals,
Sharijar,do you mean having received, by mail, copy of a Swift Message MT700 only, or the same as enclosure of a letter sent by a bank, in which the latter shows the role it is playing? IMHO many banks, in order to save costs, but charging commissions, are used to send hard copy of SWIFT Messages to advise doc. credits, without copying such message in their own headed letter, but the banks must express their present and future actions.

Please let me know.

Ciao

Any mail LC can be typed in SWIFT format, that need not be LC transmitted via SWIFT.

In this case, other condition for mail lc like signed by authorised signatories etc. have to be ensured.

cparial read my mind.

it was a mail LC but typed in swift format.

regd

shahriar

In my opinion, LC may be sent via mail or other means but if the content of mail is adequate and signed by authorized person which can be verified, no problem.

rgrds