Is is considered a discrepancy if the only date on the Insurance Certificate is that of the Shipment Date? The Insurance Certificate I have is filled out online and when printed, only shows the date of shipment. I've never had a problem before, but now the bank is claiming that it does not specify the date of issuance or effective date. Please help!
Dates in Insurance documents
I quote ISBP 681, article 13:
'Drafts, transport documents and insurance documents must be dated even if a credit does not expressly so require. A requirement that a document, other than those mentioned above, be dated may be satisfied by reference in the document to the date of another document forming part of the same presentation (e.g., where a shipping certificate is issued which states “date as per bill of lading number xxx” or similar terms). Although it is expected that a required certificate or declaration in a separate document be dated, its compliance will depend on the type of certification or declaration that has been requested, its required wording and the wording that appears within it. Whether other documents require dating will depend on the nature and content of the document in question.'
UCP 600, article 28(e):
28.e The date of the insurance document must be no later than the date of shipment, unless it appears from the insurance document that the cover is effective from a date no later than the date of shipment.
The above settles clearly whether only the shipment date being mentioned in an nsurance document is enough to comply with the ICC Rules, doesn't it?
Date on the insurance certificate
Hello lcgirl,
It is always best that the insurance document be dated, however if from the face of the document the examiner can determine that coverage is latest from the date of shipment, there should not be a discrepancy. Unfortunately examiners are not skilled in reviewing the insurance document and/or the reference to coverage is in the terms an conditions on the reverse of the document which the examiner will not review.
So if you can reference that the coverage begins at the latest the date of shipment on the document, the examiner should not note a discrepancy.
I hope this helps out.
Best regards,
LC Sam