old or brand new

[jabra]

dear all,

if the LC calls for a capital machinery for chemical industry with detail of model no.; will you infer the requirement as new or used machinery?

[shahriar]

as a general rule, i will say that the LC is calling for new machinery. if a letter of credit has to be issued for used goods, the credit must clearly state so.

[ybattia]

I agree with shahriar's comment and in this case any goods submitted under a correct dscribtion of goods in the invoice would be acceptable.

Unless the credit specifies "used" or "new" or manufacturing date of whatsoever.

[SHAMEER]

We need not understand whether the requirement is for the new or the old one unless the DC clearly stipulates.



B.regards

[iLC]

in general there is no need to inquire whether its new or old. nevertheless, if the invoice show brand new capital machinery, its ok. but if the invoice show used machinery, its discrepant.