LC NUMBER ON THE DOCUMENT

[SHAIKELIYAS]

Hello Sirs:

We have received an LC wherein, as a part of the documentation requirement a copy of Customs Export Declaration needs to presented.

As per the LC condition there is a clause it states : "THE LC NUMBER MUST BE MENTIONED ON ALL REQUIRED DOCUMENTS EXCEPT EXPORT DECLARATION"

With the above clause, incase of LC number is mentioned on the Export Declaration Copy, will considered as discrepancy.

Appreciate your suggestion...

Thanks and regards

[picant]

Hi Pal,

I dare say that Opinion R746/ TA734(abstract) could solve your problem.

"
es. 1 : All documents except bill of lading must indicate this credit number and P.O. no. XXXXX

Analysis and conclusion:
The enphasis in this condition, as drafed. is that all documents must indicate certain data except the bill of lading. However, this condition does not prohibit the bill of lading mentioning the stated data. If the intention is that the bill of lading is not to include such data, then the credit should be specific and so state."

Naturally being no native speaker, my interpretation may be wrong.
Other comments appreciated
Ciao

[SHAIKELIYAS]

Hello:

We understand the same and accordingly, we have presented the documents wherein the Export Declaration copy showing the Lc number, but the negotiating bank quoted discrepancy states that:

"EXPORT DECLARATION EVIDENCE LC NO WHICH IS RESTRICTED IN LC"

Is this discrepancy is valid Or we can go back to them saying this is not a valid discrepancy and asked them to waive it off?

Your comment is highly appreciated.

Thanks

[picant]

Hi Pal,

you may quote the opinion, if not already done. Then deal friendly to find an agreement. The last chances are to apply local ICC or have a legal advice.
Many banks even if issuing l/c are not aware of ICC Opinions.
Let me know.
Ciao