required doc or not ?

loankim · Post by **loankim** » Mon Jul 13, 2009 2:09 pm

Dear all,

Pls give me your opinion for this situation:
Field 46A for required docs does not include cert. of quality and weight, but in field 47A stipulating that :" cert. of quality and weight must show all compositions of goods as L/C stated"

Does the bene have to present that cert ?

rgds,

abdu · Post by **abdu** » Mon Jul 13, 2009 4:10 pm

Hi,

thats a clear case of bad issuance

If I am the beneficiary I would seek an amendment to clear if this document is required to be presented or not....

however I would look at article 14(h) would disregard this condition.

quote
h. If a credit contains a condition without stipulating the document to indicate compliance with the condition, banks will deem such condition as not stated and will disregard it.
unquote

Best regards

shahriar · Post by **shahriar** » Mon Jul 13, 2009 8:17 pm

in my opinion yes. and i think in ICC opinion yes also

ICC opinion R412

The fact that a requirement (documentary or otherwise) appears within field 47A of a SWIFT700 does not mean that a bank can ignore the condition on the grounds that it is an "additional instruction" field. Whilst banks should list the required documents within field 46A it is not unknown that documentary requirements have been included within field 47A.

in your case though there was no direct request for the weight certificate, i would consider it as a documentary condition. in addition the document is quite a simple one. a wise beneficiary should not look for loopholes related to documents that he / she can issue very easily.

ajoy · Post by **ajoy** » Tue Jul 14, 2009 5:57 am

Hi All,

I do agree with Shahriar. Although strictly technically the document is not required to be submitted, it is quite clear that the applicant wants it . The intent is clear. The bene should either go for an amendment or submit the document. As a negotiating bank we should advise the bene to submit the document although we cant point it out as a discrepancy.

This is one situtaion where common sense wins over technical issues.

Cheers

loankim · Post by **loankim** » Fri Jul 17, 2009 7:35 am

Dear all,

your comments help me alots . i also think that is a required doc.
nice working day !

required doc or not ?

required doc or not ?

Bad Issuance!!

yes

In practice

thank you !