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Does Sub Article 30(b), UCP600 Applies To 100 Ton Of Steel
Posted: Fri Dec 20, 2013 4:11 pm
by hachem
Dear expert,
If a credit requires shipment of ‘100 tonnes of grade A quality steel scrap’ and states partial shipment is not applicable. A tolerance not to exceed 5% more or 5% less than the quantity of goods as per sub article 30(b) is applicable or not?
Regards
H jallouli
applicable
Posted: Sat Dec 21, 2013 2:19 pm
by picant
Hi Pal,
Tonne is not a packing unit or individual item, isnt it?
Other comments appreciated
Ciao
UCP600 art 30 b
Posted: Sun Dec 22, 2013 9:55 am
by thuyvan
Tonne or MT would not be a type of packing unit or individual items. What you confuse here is that LC states partial shipment is not allowed, is that right? Art 30b does not mention partial shipment is allowed or not, so I think it is applicable whether partial shipment is allowed or not. That is to say, art 30b is applicable in this senario.
Regards
tolerance as per sub art 30(b)
Posted: Mon Dec 23, 2013 4:21 pm
by hachem
If a credit stipulates
* quantity:100 tonnes of grade A quality steel scrap
* the unit price of one tonne of grade A quality steel scrap is for USD 100,
* and the credit amout is for USD 10 000,
A shipement of 95 tonnes will induce a drawing for USD 9500. In this case a document checker will pay, as per sub art 30(b), because the total amount of drawing does not exceed USD 10000.
But, a shipment of 105 tonnes will induce an invoice value for USD 10500. In this case a document checker will pay for only USD 10000 because a drawing in excess to the credit amount is not acceptable as per sub art 30(b).
Any comment would be highly appreciated