LC Calls For Official Export Inspection Certificate By FGIS

Simple is Beautiful; the only thing came in my mind when thought of documentary collection. And I think more and more people are thinking the same in these days. Documentary Collection offers us far greater security than selling on open account; but not as much as a documentary credit. We should therefore be more cautious before starting selling using this method of payment. Documentary Collection Forum is an effort to help you on this way – admin; besttradesolution.com
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Starter
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LC Calls For Official Export Inspection Certificate By FGIS

Post by Starter » Sat Jun 08, 2013 9:09 am

Hi all,

The following question regards assistance :

a) lc called for official export inspection certificate issued by fgis.

presented official export inspection certificate issuef by united states department of agriculture federal grains inspection service.

will this be discrepancy? they are actually the same authority?
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mandeep
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Inspection Certificate By FGIS

Post by mandeep » Tue Jun 11, 2013 1:25 pm

Hello,

in my point of view, it is not discrepancy as clause does not specify from which country the certificate should be issued. it simply stated inspection certificate issued by fgis.

regards
mandeep
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navneet
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Use of abbreviation

Post by navneet » Tue Jul 09, 2013 10:24 am

Hi Frineds,
ISBP para #6 says " Use of generally accepted abbreviations does not make a document discrepant."
Because L/C asked inspection certificate from FGIS which stands for Federal Grain Inspection Service abd vice versa hence in my veiw it's not a discrepancy.

Secondly, if banks raise discrepancy on the ground that in L/C the terms FGIS does not stand for "Federal Grain Inspection Service" rather it is for somthing else then this shall be treated as ambigious requirement in L/C and in such conditions as per ISBP para #2 " An applicant bears the risk of ambiguity in it's instructions to the issuing bank....."
Hence no discrepancy.

Rgds./Navneet
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