Hi Everybody
I appreciate your opinion regarding the following case:
Description of goods in field 45A: INDIAN RAPE SEED MEAL WITH THE FOLLOWING DETAILS:
A) OILS AND ALBUMINOIDS COMBINED : 36 PERCENT TO 38 PERCENT BELOW 36 % REJECTABLE
AT BUYERS OPTION.
B) FIBRE : 12 PERCENT TO 14 PERCENT ABOVE 14 PERCENT
REJECTABLE.
etc.......
Commercial invoice shows descripency of goods as :
"INDIAN RAPESEED MEAL."
The issuing bank has noticed descripency as per article 18c of UCP 600.
Regards
Rejaul.
Description of goods.
- picant
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descrption of goods
Hi Pal,
it is very difficult to "translate" contract terms in L/C wording.
A correct L/C had to indicate in goods description. Indian rape seed meal. Than ask for a quality certificate stating the percentage of A)Oils and Albuminoids from 36 to 38% and B)fibre from 12 to 14 %.
In your case,probably, the issuing bank consider goods description not in contrast .
Other comments appreciated
Ciao
it is very difficult to "translate" contract terms in L/C wording.
A correct L/C had to indicate in goods description. Indian rape seed meal. Than ask for a quality certificate stating the percentage of A)Oils and Albuminoids from 36 to 38% and B)fibre from 12 to 14 %.
In your case,probably, the issuing bank consider goods description not in contrast .
Other comments appreciated
Ciao
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- First Name: Cristian
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My view
At a first glance issuing bank seems to have introduced in description of goods terms and condition from the contract that created confusion as to the integrity of the credit.
.
Now how a beneficiary can write in his invoice those stupid remarks about 'rejectable' in case issuing bank claims description not corresponding.
.
In the context of such description the beneficiary should have at least stated the percentage of goods triggering the payment. (i.e. for example 37,5 pct oil and albuminos and fibre between 12 to 14 pct)
(docs may or may not be accepted - in terms of credit a possible waiver for a discutable discrepancy beyond issuing bank understanding )andRejaul17 wrote:BELOW 36 % REJECTABLE
AT BUYERS OPTION.
( discrepancy not to be waived in case of buyer's acceptance????)Rejaul17 wrote:ABOVE 14 PERCENT
REJECTABLE.
.
Now how a beneficiary can write in his invoice those stupid remarks about 'rejectable' in case issuing bank claims description not corresponding.
.
In the context of such description the beneficiary should have at least stated the percentage of goods triggering the payment. (i.e. for example 37,5 pct oil and albuminos and fibre between 12 to 14 pct)
-
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good observation
good observation dear cristain. im in line with your thought. i have seen a lots of proforma invoice with similar language. these lines appears to be a condition but if written correctly would form a part of the description of goods. the beneficiary should include the details. however i would not have reject the presentation for not mentioning this.
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document discrepant
hi all
the decription stated on the commmercial invoice is too general. description of goods on comercial invoice ought to be detail.
other views welcome
the decription stated on the commmercial invoice is too general. description of goods on comercial invoice ought to be detail.
other views welcome
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- Joined: Sat Jun 28, 2008 7:24 pm
My opinion
If the description of goods in the commercial invoice were like the following:
Other comments appreciated.
then it would not be logical to quoteIndian rapseed meal
A) OILS AND ALBUMINOIDS COMBINED : 36 PERCENT.
B) FIBRE : 13 PERCENT.
etc.....
in that case the description should be OK. Yes I agree with cristiand969.BELOW 36 % REJECTABLE
AT BUYERS OPTION. and
B) ABOVE 14 PERCENT
REJECTABLE.
Other comments appreciated.