Help Regarding 47A: Additional Conditions

[Ahmedv]

Hello All,

I need your help with this point

What does this mean? Do I have to take care of this point?

Thanks in advance

Ahmed

[picant]

Hi Pal,

please specify the documents required in clause no. 1 and 2 of the l/c.
Assuming that the documents have to be signed or countersigned by buyer representatives, the issuing bank sent the signatures specimen to the advising bank in the way that the latter may check the authenticity of the signatures on these documents, but further sending to beneficiary, is something that,
naturally IMHO, may cause frauds.
However, I dare say to avoid the use of " documents being integral part of this credit ".....
Other comments appreciated
Ciao

[cristiand969]

This is a typical statement when the applicant would like to countersign some documents required by the credit and,
in order to avoid a 'false' signature or an applicant's unauthorized signature, add a document containing specimen signature as integral part of the credit.
Depending of the nature of the goods or services or, more important, in what manner the commercial agreement has been concluded (i.e agreed on inspection of goods confirmed by buyer by signing a protocol of receipt), this specimen
may be approrpiate or not for this transaction. However, ISBP for UCP600 discourages any document contersigned by
applicant as the irrevocability and the independence of the L/C is undoubtelly affected.
It is the risk of the beneficiary to perform under such letter of credit
As per above mentioned wording , seems to be a L/C issued from India