Tolerance Artilce 30 B And C of UCP600
Posted: Sun Jul 17, 2016 11:17 pm
Colleagues,
I was just going through the article 30 B and C again and again )
When searching info in the internet I found out an examples:
LC full amount is USD100,000.00, partial shipment is prohibited, merchandize is 10,000MT of scrap metals and no unit price is given.
Invoice presented in following scenarios:
a) Amount drawn USD95,000.00 and quantities shipped 9,500MT
b) Amount drawn USD95,000.00 and quantities shipped 10,500MT
The answer is both presentations are correct.
Now I have a question can article 30 b and c be applicable at the same time.
In above mentioned scenarios I see that both work at the same time.
As quantity is given in MT article 30 b works, bene can ship either 9,500MT or 10,500 provided that total amount wont be increased. At the same time article 30 c works less than 5% in amount is acceptable.
Thank u in advance
I was just going through the article 30 B and C again and again )
When searching info in the internet I found out an examples:
LC full amount is USD100,000.00, partial shipment is prohibited, merchandize is 10,000MT of scrap metals and no unit price is given.
Invoice presented in following scenarios:
a) Amount drawn USD95,000.00 and quantities shipped 9,500MT
b) Amount drawn USD95,000.00 and quantities shipped 10,500MT
The answer is both presentations are correct.
Now I have a question can article 30 b and c be applicable at the same time.
In above mentioned scenarios I see that both work at the same time.
As quantity is given in MT article 30 b works, bene can ship either 9,500MT or 10,500 provided that total amount wont be increased. At the same time article 30 c works less than 5% in amount is acceptable.
Thank u in advance