LC
43P: PARTIAL SHIPMENTS
ALLOWED
45A: DESCRIPTION OF GOODS AND/OR SERVICES
STEEL PRME CONCAST BILLET
QUANTITY:
LOT A – 10,000 MT
LOT B – 10,000 MT
47A: ADDITIONAL CONDITIONS
ALL DOCS. MUST BE SEPARATE MADE LOT A AND LOT B
LOT A: 500 MT
LOT B: 300 MT
MAY I HAVE YOUR COMMENT WHETHER PARTIAL SHIPMENT
IS ALLOWED WITHIN EACH LOT.
THAT IS MORE THAN 2 LOTS ARE ALLOWED.
OR
PARTIAL SHIPMENT IS ALLOWED IN LOT A AND LOT B.
THAT IS 2 SHIPMENT ONLY.
THANK YOU FOR YOUR ASSISTANCE.
REGARDS,
LEUNG, KS
Take Care!!!!!
As per the facts that you have stated it is not clear at all about the partial shipments and I think should immediately send a message to the issuing bank asking them to clear out the matter or give a shipment schedule stating:-
shipment to be effected in xx lots
1) lot 1 for xxmt to be shipped on or before xx/xx/2010
2) lot 2 for xx mt to be shipped on or before xx/xx/2010
and you can also state in your swift that you are holding the letter of credit unadvised.
unclear instructions can lead to discrepancies and delay in transactions.
I hope this will resolve the matter.
Shipment in lots
Hi KS,
Given what you have mentioned about the documentary credit, partial shipments in each lot would be acceptable. The issuing bank should have prohibited partial shipents in each lot or stated that the shipment is to be in 2 lots only, with each lot shipped in full.
Now, while that position is my postion on the documentary credit requirements, if I were the beneficiary, I would check the contract with the applicant and ship according to that contract. So if the contract was only to be 2 shipments in full lots, I would do that. this falls outside of the realm of the documentary credit, but it is a good business practice.
I hope this helps out.
LC Sam