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Incomplete H.S. Code

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Wed, 01/27/2010 - 07:35
moyaz
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As per Article 14(d) of UCP600:
"Data in a document, when read in context with the credit, the document itself and international standard banking practice, need not be identical to, but must not conflict with, data in that document, any other stipulated document or the credit."

Now, I have got a certificate of origin which mentions only first 04(four) digits of the 08(eight) digit H.S. Code in the L/C, while all other documents mention all the 08(eight) digits as mentioned in the L/C.

Is it a discrepancy? Why or why not?

I need some answers please.

‹ I'm really confused Case on Insurance Dox ›
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Wed, 09/15/2010 - 21:02
#1
xinlala
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Sat, 01/30/2010 - 07:27
#2
tulsi
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This is a clear discrepancy

Sir

This is a clear discrepancy. Because the H.S code on certificate of origin inconsistent with other L/C documents”.  

Contact: tulsipillaiex@hotmail.com

Regards

Tulsi / Dubai

 

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Wed, 01/27/2010 - 07:49
#3
LC Specialist
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Incomplete H.S. Code

Moyaz,

It is not a discrepancy, COO most of the time shows the 4 digit of H.S.Code

If you are into export side, better to pick it up as a disp and ask bene to revise the dox.

Regards.

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Wed, 01/27/2010 - 08:00
#4
moyaz
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Incomplete H.S. Code

moyaz u sharif
Thank you Specialist.
Now, suppose I am into import side, and convey
this as a discrepancy to the presenting bank, and
it is not challenged by the presenting bank... what does it mean? Has presenting bank accepted it as a discrepancy?
Comment please.

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Wed, 01/27/2010 - 08:41
#5
LC Specialist
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Incomplete H.S. Code

yes.

if they didnt turned then it means tey hav accepted.

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Wed, 01/27/2010 - 08:49
#6
moyaz
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Incomplete H.S. Code

moyaz u sharif
As such, can the docs be returned?

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Wed, 01/27/2010 - 16:31
#7
Abrar
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Incomplete H.S Code

If the issuing bank is confident that the discrepancy is valid (and I believe it is), then provided it has issued a rejection notice in accordance with Art. 16 of UCP600, its sub-article,  (c) (iii) (c) would allow the issuing bank to return the documents without further reference to the presenting bank.   

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Wed, 01/27/2010 - 21:41
#8
mohkahn
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Incomplete H.S. Code

is issuing bank not required to consult applicant first before sending back the docs?

if yes, then is it under UCP rules or just standard courtesy to the applicant and bene? 

thanks. 

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Thu, 01/28/2010 - 00:34
#9
Abrar
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Discrepant douments

In theory, under UCP, the issuing bank is not obliged to, but in practice, and for the sake of good order, it is likely to take the applicant's instructions, and advise the beneficiary/presenting bank before taking this action. However, it is always a last resort, when there is no likelihood that the applicant will take up the documents

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Sat, 01/30/2010 - 17:46
#10
Tradeknowledge
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C/O provides incomplete code

Based on the question the LC did not require the code to be stated on all documents.  If this is true, the fact that the C/O did not have the complete code should not be a reason for refusal.  The beneficiary can say it is all that is required by the Chamber or needed for a C/O or that the 4-digit code relates to something else.  I do not believe that the discrepancy is valid nor do I believe that a court would uphold the discrepancy. 

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