LC allows different country of origin

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
User avatar
shahriar
Posts: 923
Joined: Fri May 16, 2008 1:03 am
First Name: Shahriar
Last Name: Masum
Organization: Mutual Trust Bank
Filter: Two Plus Two =: 4
Location: Bangladesh

LC allows different country of origin

Post by shahriar » Mon Jul 20, 2009 10:25 am

Dear Friends,

i am confused with this question. Say the LC quotes "Goods are to be of China or Japan Origin" and partial shipment allowed. The credit covers large quantity of only one type of goods. if the first presentation shows that the goods are of China origin, then must the following presentation also show the same? what will be your answer of the credit cover different types of goods.

abdu
Posts: 4
Joined: Sun Jul 12, 2009 8:27 pm
First Name: Abdullah
Last Name: Sheikh
Organization: Trade Finance
Filter: Two Plus Two =: 4

Fine

Post by abdu » Mon Jul 20, 2009 12:56 pm

Greetings,

The LC quotes "Goods are to be of China OR Japan Origin"
so the second presentation can also state that goods are of China origin.

regards,

ldt5205
Posts: 68
Joined: Mon Mar 09, 2009 3:19 pm

ACCEPTABLE

Post by ldt5205 » Mon Jul 20, 2009 2:50 pm

I agree with abdu.
Goods may be of EITHER China OR Japan Origin.The ben may make shipment at Japanese port or chinese port.

User avatar
nesarul
Posts: 513
Joined: Sun May 18, 2008 9:46 pm
First Name: Nesarul
Last Name: Hoque
Organization: Mutual Trust Bank
Filter: Two Plus Two =: 4
Location: Bangladesh

country of origin

Post by nesarul » Mon Jul 20, 2009 5:11 pm

Dear,
What will happen:
the LC quotes "Goods are to be of China/Japan Origin" and partial shipment allowed.
The credit covers large quantity of only one type of goods. if the first presentation shows that the goods are of China origin,
.
Is the document comply.
regards
nesar

ldt5205
Posts: 68
Joined: Mon Mar 09, 2009 3:19 pm

China/Japan =China or Japan?

Post by ldt5205 » Tue Jul 21, 2009 9:06 am

If yes,I would say,the presentation still complies.

Post Reply