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Clearly the seller is at risk for loss prior to the ‘place’ in the destination country where the cargo is handed over so they would have the insurable interest prior to that point and it would be prudent – but not compulsory – for the seller to carry cargo insurance. In ccie training practice, it is often the buyer – on receipt of the goods – who will first detect cargo loss or damage. In DDU contracts, the commonest method of payment is an open a+ certification account i.e. in a contract prefixed “D”, the seller delivers cargo (as opposed to a C prefixed contract which is the sale of documents – hence its close association to the credit). Accordingly, the buyer holds payment over until delivery is achieved. Thus, in the case of cargo loss or damage, it is ccna commonest (but not obligatory) for the buyer to short-pay the seller to compensate for any loss. The buyer in such cases having no risk whether the cargo is insured or not and the seller claiming for the loss. (All of this does not mean that we could not have a credit with a DDU sale, but it oracle 9i certification dumps wouldn't be appropriate: I can unscrew the wires from a plug with a fish-knife that does not make the screwdriver less appropriate).
ISBP Para. 58 says the description of the goods, services or performance in the invoice must correspond with the description in the credit. So, if checked separately, the invoice is deemed to be complied with the credit. However, if cross-checked with other documents, the invoice is discrepant as it seems to some extent to be inconsistent with the bill of lading.
Notwithstanding my above analysis, I would accept the invoice.
This is a good question. Look at ISBP Paragraph 59 for yoru answer. it states that "The description of goods, services or performance in an invoice must reflect what has actually been shipped or provided." Therefore the term must show the actual port.
Be careful here, though, as the invoice may also show the port of loading in another location. In this case the invoice does show the actual term.
Presumably the issue is whether the B/L should show "any port in Japan" instead of "Tokyo, Japan"?
The invoice complies, although it would have been better practice to name the actual port of loading, i.e "FOB, Tokyo port, Japan".
The B/L complies. The LC allowed loading from any port within a region, and the B/L was specific as to the exact location within the region.
Quoting para. 100 of ISBP: " If a credit gives a geographical area or range of ports of loading or discharge (e.g., "Any European Port"), the bill of lading must indicate the actual port of loading or discharge, which must be within the geographical area or range stated in the credit."
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70-663 dumpsThe UCP600
70-663 dumpsThe UCP600 article 3 indicates a document may be signed by ... or any other mechanical or electronic method of authentication70-680 dumpsThe UCP600 article 3 indicates a document may be signed by ... or any other mechanical or electronic method of authentication83-640 dumpsThe UCP600 article 3 indicates a document may be signed by ... or any other mechanical or electronic method of authenticationa+ certification practice exams
Clearly the seller is at
Clearly the seller is at risk for loss prior to the ‘place’ in the destination country where the cargo is handed over so they would have the insurable interest prior to that point and it would be prudent – but not compulsory – for the seller to carry cargo insurance. In ccie training practice, it is often the buyer – on receipt of the goods – who will first detect cargo loss or damage. In DDU contracts, the commonest method of payment is an open a+ certification account i.e. in a contract prefixed “D”, the seller delivers cargo (as opposed to a C prefixed contract which is the sale of documents – hence its close association to the credit). Accordingly, the buyer holds payment over until delivery is achieved. Thus, in the case of cargo loss or damage, it is ccna commonest (but not obligatory) for the buyer to short-pay the seller to compensate for any loss. The buyer in such cases having no risk whether the cargo is insured or not and the seller claiming for the loss. (All of this does not mean that we could not have a credit with a DDU sale, but it oracle 9i certification dumps wouldn't be appropriate: I can unscrew the wires from a plug with a fish-knife that does not make the screwdriver less appropriate).
INCOTERM
Invoice complies, but better practise is to put FOB named port.
Regards!!!!
Mujeeb :-)
Incoterms
Hi,
ISBP Para. 58 says the description of the goods, services or performance in the invoice must correspond with the description in the credit. So, if checked separately, the invoice is deemed to be complied with the credit. However, if cross-checked with other documents, the invoice is discrepant as it seems to some extent to be inconsistent with the bill of lading.
Notwithstanding my above analysis, I would accept the invoice.
Regards,
Nguyen Huu Duc
Incoterm any port
Hi Mark,
This is a good question. Look at ISBP Paragraph 59 for yoru answer. it states that "The description of goods, services or performance in an invoice must reflect what has actually been shipped or provided." Therefore the term must show the actual port.
Be careful here, though, as the invoice may also show the port of loading in another location. In this case the invoice does show the actual term.
I hope this helps out.
Best regards,
LC Sam
Incoterm
Presumably the issue is whether the B/L should show "any port in Japan" instead of "Tokyo, Japan"?
The invoice complies, although it would have been better practice to name the actual port of loading, i.e "FOB, Tokyo port, Japan".
The B/L complies. The LC allowed loading from any port within a region, and the B/L was specific as to the exact location within the region.
Quoting para. 100 of ISBP: " If a credit gives a geographical area or range of ports of loading or discharge (e.g., "Any European Port"), the bill of lading must indicate the actual port of loading or discharge, which must be within the geographical area or range stated in the credit."
Incoterm
Dear Abrar,
Yes I agree. However as stated above, it would have been better to state on the invoice FOB Tokyo, Japan.
Regards,
Bob
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