41A at your counters or at our counters

[edilee]

Hi !
in a unconfirmed SIGHT letter of credit if we write
41 A available AT YOUR COUNTERS (OR COUNTRY NAME OF THE BENEFICIARY )
what can the nominated bank do at the time of docs. presentation. Can they pay the amount to the beneficiary without asking issuing bank by the function of at your counters wording in spite of L/C indicates confirmation term WITHOUT.
thanks in advance for your comments

[picant]

Hi Pal,

a credit must state whether it is available by sight payment, deferred payment, acceptance or negotiation.

If this datum fails, it is very difficult to establish liabilities.

So a documentary credit or l/c must be considered in full to understand.

Other comments appreciated

Ciao and Happy new year

[shahriar]

i agree with dear picant. UCP 600 article 6b is quite clear.

b. A credit must state whether it is available by sight payment, deferred payment, acceptance or negotiation.

even when you say that they credit is available by sight, still there are to options to consider; payment or negotiation. the advising and the nominated bank should ask for clarification.

i would not mix this case with confirmation.

[edilee]

here are more details I hope you will understand my question
if you need I can explain more thanks

the l/C is a unconfirmed sight payment as usual but the difference is 41 a normally in a unconfirmed l/C it should be at our counter (that means IB counters issuing bank scan the documents than honur if there is no any discrepancy)
Payment term : sight payment ( at the presentation of the docs)
Confirmation term: without
special term for payment: we will honour against presentation of credit conform docs.

in that conditions what is the function of 41 a: available at your counters
SWIFT CODE (BIC): ISSUING BANK ONLY WORDING DIFFERENT

does issuing bank gives any authorization to nominated bank with this wording 'available at your counters'

[edilee]

I noticed that my question a bit confusing
lets forget past question
now lets suppose a mt 700 field 49 confirmation instruction WITHOUT
41 a available with by BIC ISSUING BANK
however in field (31d) date and place of expiry conflict to them
field 31d 100218 AT YOUR COUNTERS normally it should be at our counters
does it give any right to nominated bank or advising bank as supposing the L/C valid in their counters and payable at the presentation time of the docs. by them in there ( in a sight payment for example)

[picant]

Hi Pals,

in the last post it is clear the difficulty in understanding how the l/c works. But as many rules, these rules are a compromise, an agreement to satisfy many requests from different countries. In the past many l/c were established with an expiry date in beneficiary's country "FOR DOCUMENTS PRESENTATION ONLY", that meant, documents can presented to the bank in beneficiary's country not later than the expiry date, but documents will avail the l/c only when they will be in the hands of issuing bank.So in your case, documents will be accepted(by the issuing bank) if delivered to a bank in beneficiary's country, but will be complied only if they reach the bank in field 41.

Other comments appreciated

ciao

[edilee]

thank you Ciao
I get the point. if there is no any other comment we accept it works like that