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1984
- Posts: 2
- Joined: Wed Dec 31, 2014 4:03 pm
- First Name: FARHAD
- Last Name: KABIR
- Organization: SOUTHEAST BANK LTD
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- Location: BANGLADESH
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by 1984 » Sat Jan 17, 2015 7:42 pm
A tolerance not exceed 5% more or 5% less than the quantity allowed, provided the credit does not state the quantity
in terms of a stipulated number of packing units or individual items
and the total amount of the drawings does not exceed the amount of the credit.
The quote portion of the article is not clear to me. What it means by the quote lines? If anyone gives me a clarification of this, it will be a great help for me.
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mijanlt23004
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- First Name: Mijanur
- Last Name: Rahman
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by mijanlt23004 » Thu Jan 22, 2015 12:09 am
Firstly you have need to differentiate what types of quantity or goods are considered as individual items or packing units and what types of goods are not individual items or packing units.Example
i. 500 hand watches, 1500 computers, 100 cars… are types of individual items.
ii.35,000 boxes , 1000 pallets, 5,000 bales, 500 barrels… are considered as types of packing units.
iii. 10,000 MT of wheat, 15,000 gallons of oil, 5,000 MT of rice… are not types of individual items or packing units.
Sub-article 30(b) does not apply for example i and example ii above. It applies to the situation where the quantity of goods is subject to cubic or weight measurements like cubic meters gallons, kilograms, metric tons… as explained in example iii.