Best Trade Solution

Dear Expert,

May I ask for your opinion on the following:


LC:

43P: Partial shipments
allowed

45A description of goods
Commodity: Natural Rubber
Quantity: 806.40 Mts
Packing: In pallet of 1260 kg each 16 pallets (20.16Mt) per 20’FCL

47A additional conditions
The First Lot 201.6 Mt should be shipped on or before Jan 10th, 2010
The Second Lot 403.2 Mt should be shipped on or before Jan 20th, 2010
The Third Lot 201.6 Mt should be shipped on or before Feb 15th, 2010/1/23

The Negotiating bank present documents as follows:

The 1st drawing: 201.6 Mt shipped on Jan 5, 2010
The 2nd drawing: 201.6 Mt shipped by Vessel A on Jan 15, 2010 and
201.6 Mt shipped by Vessel B on Jan 19, 2010/1/23

The 1st drawing comply with L/C but the second drawing:

Issuing bank claimed that shipment effected not according to shipping schedule.


Is it right to claim this discrepancy for this 2nd drawing?

In my opinion, Issuing bank not clearly stated that shipment can only be effected in 3 lot only, since partial shipment is allowed, partial shipment within each lot should be acceptable in this case. Please correct me if I am wrong.

Thank you for your assistance.

for your reference:
UCP 600 Article 32. Installment Drawings or Shipments
If a drawing or shipment by installments within given periods is stipulated in the credit and any installment is not drawn or shipped within the period allowed for that installment, the credit ceases to be available for that and any subsequent installment

Regards,
ucp 600

Dear,
From my point of view, Issuing bank's stand is ok.
Partial shipment allowed under a shipment schedule indicates that shipemt can be partially made within each shipment schedule.
regards
nesar

İt is a good question
I m not sure but
my view is that since L/C permits partial shipment each of schedule may be effected partially as nesarul mentioned but it stands with nominated bank not issuing bank.
other comments wellcome