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UCP 600 Article 16 to 20

UCP 600 Article 16 to 20

Article 16

Discrepant Documents, Waiver and Notice

  1. When a nominated bank acting on its nomination, a confirming bank, if any, or the issuing bank determines that a presentation does not comply, it may refuse to honour or negotiate.
  2. When an issuing bank determines that a presentation does not comply, it may in its sole judgement approach the applicant for a waiver of the discrepancies. This does not, however, extend the period mentioned in sub-article 14 (b).
  3. When a nominated bank acting on its nomination, a confirming bank, if any, or the issuing bank decides to refuse to honour or negotiate, it must give a single notice to that effect to the presenter. The notice must state:
    1. i. that the bank is refusing to honour or negotiate; and
    2. each discrepancy in respect of which the bank refuses to honour or negotiate; and
      1. that the bank is holding the documents pending further instructions from the presenter; or
      2. that the issuing bank is holding the documents until it receives a waiver from the applicant and agrees to accept it, or receives further instructions from the presenter prior to agreeing to accept a waiver; or
      3. that the bank is returning the documents; or
      4. that the bank is acting in accordance with instructions previously received from the presenter.
  4. The notice required in sub-article 16 (c) must be given by telecommunication or, if that is not possible, by other expeditious means no later than the close of the fifth banking day following the day of presentation.
  5. A nominated bank acting on its nomination, a confirming bank, if any, or the issuing bank may, after providing notice required by sub-article 16 (c) (iii) (a) or (b), return the documents to the presenter at any time.
  6. If an issuing bank or a confirming bank fails to act in accordance with the provisions of this article, it shall be precluded from claiming that the documents do not constitute a complying presentation.
  7. When an issuing bank refuses to honour or a confirming bank refuses to honour or negotiate and has given notice to that effect in accordance with this article, it shall then be entitled to claim a refund, with interest, of any reimbursement made.

Article 17

Original Documents and Copies

  1. At least one original of each document stipulated in the credit must be presented.
  2. A bank shall treat as an original any document bearing an apparently original signature, mark, stamp, or label of the issuer of the document, unless the document itself indicates that it is not an original.
  3. Unless a document indicates otherwise, a bank will also accept a document as original if it:
    1. appears to be written, typed, perforated or stamped by the document issuer’s hand; or
    2. appears to be on the document issuer’s original stationery; or
    3. states that it is original, unless the statement appears not to apply to the document presented.
  4. If a credit requires presentation of copies of documents, presentation of either originals or copies is permitted.
  5. If a credit requires presentation of multiple documents by using terms such as in duplicate, in two fold or in two copies, this will be satisfied by the presentation of at least one original and the remaining number in copies, except when the document itself indicates otherwise.

Article 18

Commercial Invoice

  1. A commercial invoice:
    1. must appear to have been issued by the beneficiary (except as provided in article 38);
    2. must be made out in the name of the applicant (except as provided in sub-article 38 (g));
    3. must be made out in the same currency as the credit; and
    4. need not be signed.
  2. A nominated bank acting on its nomination, a confirming bank, if any, or the issuing bank may accept a commercial invoice issued for an amount in excess of the amount permitted by the credit, and its decision will be binding upon all parties, provided the bank in question has not honoured or negotiated for an amount in excess of that permitted by the credit.
  3. The description of the goods, services or performance in a commercial invoice must correspond with that appearing in the credit.

Article 19

Transport Document Covering at Least Two Different Modes of Transport

  1. A transport document covering at least two different modes of transport (multimodal or combined transport document), however named, must appear to:
    1. indicate the name of the carrier and be signed by:
      – the carrier or a named agent for or on behalf of the carrier, or
      – the master or a named agent for or on behalf of the master.Any signature by the carrier, master or agent must be identified as that of the carrier, master or agent. Any signature by an agent must indicate whether the agent has signed for or on behalf of the carrier or for or on behalf of the master.
    2. indicate that the goods have been dispatched, taken in charge or shipped on board at the place stated in the credit, by:
      – pre-printed wording, or
      – a stamp or notation indicating the date on which the goods have been dispatched, taken in charge or shipped on board.The date of issuance of the transport document will be deemed to be the date of dispatch, taking in charge or shipped on board, and the date of shipment. However, if the transport document indicates, by stamp or notation, a date of dispatch, taking in charge or shipped on board, this date will be deemed to be the date of shipment.
    3. indicate the place of dispatch, taking in charge or shipment and the place of final destination stated in the credit, even if:
      1. the transport document states, in addition, a different place of dispatch, taking in charge or shipment or place of final destination,
        or
      2. the transport document contains the indication intended or similar qualification in relation to the vessel, port of loading or port of discharge.
    4. be the sole original transport document or, if issued in more than one original, be the full set as indicated on the transport document.
    5. contain terms and conditions of carriage or make reference to another source containing the terms and conditions of carriage (short form or blank back transport document). Contents of terms and conditions of carriage will not be examined.
    6. contain no indication that it is subject to a charter party.
  2. For the purpose of this article, transhipment means unloading from one means of conveyance and reloading to another means of conveyance (whether or not in different modes of transport) during the carriage from the place of dispatch, taking in charge or shipment to the place of final destination stated in the credit.
    1. A transport document may indicate that the goods will or may be transhipped provided that the entire carriage is covered by one and the same transport document.
    2. A transport document indicating that transhipment will or may take place is acceptable, even if the credit prohibits transhipment.

Article 20

Bill of Lading

  1. A bill of lading, however named, must appear to:
    1. indicate the name of the carrier and be signed by:
      – the carrier or a named agent for or on behalf of the carrier, or
      – the master or a named agent for or on behalf of the master.
      Any signature by the carrier, master or agent must be identified as that of the carrier, master or agent. Any signature by an agent must indicate whether the agent has signed for or on behalf of the carrier or for or on behalf of the master.
    2. indicate that the goods have been shipped on board a named vessel at the port of loading stated in the credit by:
      – pre-printed wording, or
      – an on board notation indicating the date on which the goods have been shipped on board.
      The date of issuance of the bill of lading will be deemed to be the date of shipment unless the bill of lading contains an on board notation indicating the date of shipment, in which case the date stated in the on board notation will be deemed to be the date of shipment.If the bill of lading contains the indication intended vessel or similar qualification in relation to the name of the vessel, an on board notation indicating the date of shipment and the name of the actual vessel is required.
    3. indicate shipment from the port of loading to the port of discharge stated in the credit. If the bill of lading does not indicate the port of loading stated in the credit as the port of loading, or if it contains the indication intended or similar qualification in relation to the port of loading, an on board notation indicating the port of loading as stated in the credit, the date of shipment and the name of the vessel is required. This provision applies even when loading on board or shipment on a named vessel is indicated by pre-printed wording on the bill of lading.
    4. be the sole original bill of lading or, if issued in more than one original, be the full set as indicated on the bill of lading.
    5. contain terms and conditions of carriage or make reference to another source containing the terms and conditions of carriage (short form or blank back bill of lading). Contents of terms and conditions of carriage will not be examined.
    6. contain no indication that it is subject to a charter party.
  2. For the purpose of this article, transhipment means unloading from one vessel and reloading to another vessel during the carriage from the port of loading to the port of discharge stated in the credit.
    1. A bill of lading may indicate that the goods will or may be transhipped provided that the entire carriage is covered by one and the same bill of lading.
    2. A bill of lading indicating that transhipment will or may take place is acceptable, even if the credit prohibits transhipment, if the goods have been shipped in a container, trailer or LASH barge as evidenced by the bill of lading.
  3. Clauses in a bill of lading stating that the carrier reserves the right to tranship will be disregarded.

UCP 600 Article 16 to 20

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