Hi Experts,
Good Day, I have processed one issuance in this insurance certificate coverage given 80 percent of invoice value but as per ucp 600 it should be 110 percent value. Please advise is it discrepancy?
Insurance Certificate Coverage Given 80 Percent Of Invoice Value
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Praveen
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picant
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If not stated...
Hi Pal,
as per art 28 f ii, if not expressly required in the l/c , insurance coverage must be minimum 110%.
So it is!
Ciao
as per art 28 f ii, if not expressly required in the l/c , insurance coverage must be minimum 110%.
So it is!
Ciao
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dhiraj1986
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Go through the DC terms & conditions....
Hi Pal,
Please go through the Documentary Credit's Terms & Conditions... If it states anything that should be followed, Otherwise it should be 110% of CIP or CIF value according to UCP 600 Article - 28 f (ii).
So, If it is not stated in L/C, Yes, It's a discrepancy...
Please go through the Documentary Credit's Terms & Conditions... If it states anything that should be followed, Otherwise it should be 110% of CIP or CIF value according to UCP 600 Article - 28 f (ii).
So, If it is not stated in L/C, Yes, It's a discrepancy...