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Insurance Certificate Issue Instead Of Insurance Policy

Posted: Mon May 15, 2017 1:55 pm
by SANJIV
DISCREPANCY RAISE BY BANKERS :::: +INSURANCE CERTIFICATE PRESENTED I/O INSURANCE POLICY

WE HAD AN Marine Turnover Insurance Policy (OPEN POLICY) AND FROM THE SAME WE ISSUED INSURANCE CERTIFICATE CAN IT WILL BE DISCRIPANCY AS LC ASKED FOR INSURANCE POLICY?

Posted: Tue May 16, 2017 12:43 am
by kishorp
Hi freind..
It is a discripancy to issue ins certificate i/o policy

Yes...

Posted: Tue May 16, 2017 2:27 am
by picant
Hi Pal,

art. 28 d UCP 600 is clear.
In italy documents have the same value, but UCP say no. Remember that in some Countries it is possible a difference, so UCP must consider it. The main reason is that policy contains all terms and conditions where certificate no.
Hoping that issuing bank only notify, and not reject the document, waiting for applicant acceptance.
You have to urge the buyer.!
Ciao

Posted: Thu May 18, 2017 3:29 pm
by SANJIV
Thanks for reply....