Description of goods

The forum is dedicated to all who deals with LCs. Please share your experiences, problems and opinions with us. You are requested to be confined to LC related issues only. Let us together discover the beauty of Letter of Credit. Thank and regards – admin; besttradesolution.com
Post Reply
hanifmb
Posts: 9
Joined: Thu Mar 04, 2010 10:22 pm
First Name: hanif
Last Name: mb
Organization: commerce
Filter: Two Plus Two =: 4

Description of goods

Post by hanifmb » Mon Apr 05, 2010 8:49 pm

A credit has a description of goods at the end of which it states "FOB Shanghai". The invoice states the good description but omit "FOB Shanghai". would this be acceptable ?
Top
Judith
Posts: 118
Joined: Thu Mar 12, 2009 8:59 am

As per credit

Post by Judith » Tue Apr 06, 2010 3:10 pm

As per Para 61 of ISBP, if the trade term (E.g. CIF, Shanghai) is part of the goods description, it must be stated in the invoice.
Top
shrestha
Posts: 6
Joined: Tue Apr 06, 2010 11:15 pm
First Name: Nidhaan
Last Name: Shrestha
Organization: scbnl
Filter: Two Plus Two =: 4

description of goods.

Post by shrestha » Wed Apr 07, 2010 12:14 am

that would constitute a discrepancy.
Top
vivian
Posts: 50
Joined: Thu May 14, 2009 2:55 pm
First Name: vivian
Last Name: zhao
Organization: banking
Filter: Two Plus Two =: 4

DISCRE

Post by vivian » Thu Apr 08, 2010 3:35 pm

It is a discrep,pls see ISBP , under INVOICE, " if trade term is part of goods of discrip in the credit......//

vivian
Top
Post Reply

Return to “Letter of Credit Forum”