A beneficiary presented an invoice with additional amount of the credit amount, which is permitted by credit
under the coverage of UCP-600 rules, sub-article 18 (b).
Now, is it possible to apply the tolerance rules of invoice covered by sub-article 30?
Regards
Md. Saidul Islam
EXIM Bank, Dhaka.
Email: sayed-eximbank@yahoo.com
Can We Apply Tolerance (Article 30) With Article 18(b)
- sayed
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- sayed
- Posts: 19
- Joined: Tue Feb 19, 2013 2:15 pm
- First Name: MD
- Last Name: SAIDUL ISLAM
- Organization: EXIM BANK LTD.
- Filter: Two Plus Two =: 4
- Location: BANGLADESH
Is disallowed change of the description of good?
Dear abrar
Thanks for response me.
Credit Value for USD 2000
Presented invoice looks like:
Description of goods
Quantity in mobile set: 100X 10 = USD 1000
Mobile battery: 100X10 = USD 1000
Sub-total = USD 2000
(+) additional fright charges = USD 10
Grand Total= USD 2010
It will be accepted that Invoice decreased by some discount value, but how should we act if the invoice value is increased?
It would be stated at the presented invoice that is disallowed change of the "description of good" field regarding the price? Is this a Discrepancy or Not?
Regards
Md. Saidul Islam
EXIM Bank, Dhaka.
Thanks for response me.
Credit Value for USD 2000
Presented invoice looks like:
Description of goods
Quantity in mobile set: 100X 10 = USD 1000
Mobile battery: 100X10 = USD 1000
Sub-total = USD 2000
(+) additional fright charges = USD 10
Grand Total= USD 2010
It will be accepted that Invoice decreased by some discount value, but how should we act if the invoice value is increased?
It would be stated at the presented invoice that is disallowed change of the "description of good" field regarding the price? Is this a Discrepancy or Not?
Regards
Md. Saidul Islam
EXIM Bank, Dhaka.
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- First Name: Abrar
- Last Name: Ahmed
- Organization: Crown Agents
- Filter: Two Plus Two =: 4
Sub-article 18 (b)
Article 30 is not applicable to this scenario. However, sub-art 18 (b) would allow the bank to accept the invoice for the higher amount, provided it receives the beneficiary's agreement to honour up to a maximum amount of 2000 only.
- sayed
- Posts: 19
- Joined: Tue Feb 19, 2013 2:15 pm
- First Name: MD
- Last Name: SAIDUL ISLAM
- Organization: EXIM BANK LTD.
- Filter: Two Plus Two =: 4
- Location: BANGLADESH
What about freight Charges?
Dear abrar
Thanks for replying.
Please let me know what about additional freight charges?
Regards
sayed
Thanks for replying.
Please let me know what about additional freight charges?
Regards
sayed
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- Posts: 984
- Joined: Mon Oct 25, 2010 11:52 am
- First Name: Abrar
- Last Name: Ahmed
- Organization: Crown Agents
- Filter: Two Plus Two =: 4
Freight charges
Provided the LC indicates shipment terms to be "C" terms and above, the freight charges would be understood to be a standard integral element in the overall price, so, unless the amount were to conflict with the amount stated on the P/I (that is, if the P/I were to form an integral part of the LC) the amount of the freight would not come into the picture. It is the overall drawing value of the invoice which would be subject to review under the application of sub-article 18 b.sayed wrote:Dear abrar
Thanks for replying.
Please let me know what about additional freight charges?
Regards
sayed