What Is Mean By Anti Boycott Language
-
Chaitu22
- Posts: 5
- Joined: Mon Nov 16, 2015 12:07 pm
- First Name: Chaitanya
- Last Name: Reddy
- Organization: Society generale ban
- Filter: Two Plus Two =: 4
- Location: India
What Is Mean By Anti Boycott Language
What is mean by anti boycott language
-
picant
- Posts: 2026
- Joined: Wed Aug 20, 2008 1:49 pm
Visit Internet
HI Pal,
I think it is the acceptable wording when you want to exclude a Country:
Vessel is allowed to enter in ...... ports i/o Vessel calling at .... ports prohibited, etc
You must word your l/c, contract in the way that something is preferable than prohibited.
However you may find complete definition in Internet.
Other comments appreciated
Ciao
I think it is the acceptable wording when you want to exclude a Country:
Vessel is allowed to enter in ...... ports i/o Vessel calling at .... ports prohibited, etc
You must word your l/c, contract in the way that something is preferable than prohibited.
However you may find complete definition in Internet.
Other comments appreciated
Ciao
-
nraajesh
- Posts: 82
- Joined: Wed Sep 21, 2011 4:05 pm
- First Name: Rajesh
- Last Name: Natarajan
- Organization: Societe Generale
- Filter: Two Plus Two =: 4
- Location: Bangalore
Boycott Language
Hello Chaitu,
Guess you wanna know the meaning of Boycott language instead of "Anti" boycott language. There is no such term called as "Anti" boycott language.
When a letter of credit or any other document specifically contains a clause boycotting a particular country with regard to the origin of goods, shipment, insurance etc., it's defined as a boycott language. This language may be a positive language or a negative language.
Example: "Goods should not be of XXX (name of the country) origin" - this is a negative boycott language
"Vessel is allowed to enter the ports of XXX (name of the country)" - this is a positive boycott language.
Boycott language irrespective of the nature (positive or negative) should be referred to the respective Compliance dept for their approvals.
The body which governs the Boycott related issues is called the "Office of the Anti-Boycott Compliance" (OAC) which is headquartered in the US.
Hope this clarifies.
Regards,
Rajesh
Guess you wanna know the meaning of Boycott language instead of "Anti" boycott language. There is no such term called as "Anti" boycott language.
When a letter of credit or any other document specifically contains a clause boycotting a particular country with regard to the origin of goods, shipment, insurance etc., it's defined as a boycott language. This language may be a positive language or a negative language.
Example: "Goods should not be of XXX (name of the country) origin" - this is a negative boycott language
"Vessel is allowed to enter the ports of XXX (name of the country)" - this is a positive boycott language.
Boycott language irrespective of the nature (positive or negative) should be referred to the respective Compliance dept for their approvals.
The body which governs the Boycott related issues is called the "Office of the Anti-Boycott Compliance" (OAC) which is headquartered in the US.
Hope this clarifies.
Regards,
Rajesh