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Duplicate copies for negotiation

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Sun, 07/05/2009 - 04:00
anilnair1966
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Joined: 11/09/2008
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In the middle east most of the consignements are by road - and driver should carry original documents - in this situation - how the negotiation will happen is it with duplicate copies .

 

please comment

 

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Mon, 07/06/2009 - 00:25
#1
finance
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Joined: 02/28/2008
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What happens if documents are discrepant

What happens if goods are sent to the buyer by truck and then documents are discrepant?

 

In Europe, where there is no customs between countries,goods are often sent by truck with a CMR.  Below it is advised to send original documents with the truck.  In either case, the buyer is able to take the goods before the documents have even been submitted under the LC.

What happens if the documents are then discrepant and the buyer does not waive the discrepancies?

Anyone have experience in this type of thing?

 

 

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Mon, 07/06/2009 - 05:55
#2
pan
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Joined: 09/13/2007
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Fm Italy too

Hi Friend,

when Truck Waybill (said CMR) must be presented in a l/c, and is consigned to l/c applicant, normally copy is sent to presenting bank for checking, before goods departure. If it is ok, for the bank, goods will be sent. Big risk for the presenting bank, expecially when honor is at destination and the issuing bank  lift a discrepancy and payment is stopped. The presenting bank, between two fires, will be act as per UCP 600, arguing some reasons and tries to bring money home. When no documents of title is involved, the presenting bank must obtain reimbursement instructions utilizable immediately. When money is here............

Understood !!!

Other comments appreciated

Ciao

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Sun, 07/05/2009 - 14:00
#3
Mohammed Imam
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Joined: 08/25/2008
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duplicate copies for negotiation

The L/C should have a term stating the following:

Original Documents must be send with truck driver ,therefore, negotiation against copy documents is acceptable.beneficiary's certificte to this effect must accompany the copy of the required documents.

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Sun, 07/05/2009 - 05:09
#4
Rothmans
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Joined: 01/15/2009
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Original documents accompanied goods

LC would require
- copies of Invoice, Packing List, ATR 1 (with Customs stamp), shipment advice and Insurance Cert.; and
- original Beneficicary's Cert. certifying originals invoice, packing list, atr insurance cert. accompanied with goods
- original for sender CMR marked with freight prepaid

http://sites.google.com/site/roychanys/

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