UCP 600

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UCP 600 ISBP

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Standard for Examination of Documents
?14? a. A nominated bank acting on its
nomination, a confirming bank , if any, and the
issuing bank must examine a presentation to
determine, on the basis of the documents alone,
whether or not the documents appear on their face
to constitute a complying presentation. d. 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.
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Standard for Examination of Documents
b. A nominated bank acting on its nomination,
a confirming bank, if any, and the issuing bank
shall each have a maximum of five banking days
following the day of presentation to determine if
a presentation is complying.
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FIATA M/T B/L

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carrier, master or his agent

as a carrier as a agent of the carrier
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UCP 600 Overview of Article 19

• UCP 500 Article 26
• a If a Credit calls for a transport document
  covering at least two different modes of
  transport (multimodal transport), banks will,
  unless otherwise stipulated in the Credit, accept
  a document, however named, which
• i. appears on its face to indicate the name of
  the carrier or multimodal transport operator and
  to have been signed or otherwise authenticated
  by
• - the carrier or multimodal transport operator
  or a named agent for or on behalf of the carrier
  or multimodal transport operator, or
• - the master or a named agent for or on behalf
  of the master.
• Any signature or authentication of the carrier,
  multimodal transport operator or master must be
  identified as carrier, multimodal transport
  operator or master, as the case may be. An agent
  signing or authenticating for the carrier,
  multimodal transport operator or master must also
  indicate the name and the capacity of the party,
  i.e. carrier, multimodal transport operator or
  master, on whose behalf that agent is acting,
• and

• UCP 600 Article 19
• Transport Document Covering at Least
• Two Different Modes of Transport
• Article 1 exclude or modify
• Indicate name of carrier
• On its face
• No reference to MTO carrier or master only
• Authentication removed
• Consistent signing and capacity details
• No name of master

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UCP 600 Overview of Article 19

• UCP 600 Article 19
• Transport Document Covering at Least
• Two Different Modes of Transport
• No reference to sail
• Not necessary due to definition of Complying
  Presentation

• UCP 500 Article 26
• iv. consists of a sole original multimodal
  transport document or, if issued in more than one
  original, the full set as so issued,
• and
• v. appears to contain all of the terms and
  conditions of carriage, or some of such terms and
  conditions by reference to a source or document
  other than the multimodal transport document
  (short form/blank back multimodal transport
  document) banks will not examine the contents of
  such terms and conditions,
• and
• vi. contains no indication that it is subject to
  a charter party and/or no indication that the
  carrying vessel is propelled by sail only,
• and
• vii. in all other respects meets the
  stipulations of the Credit.

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UCP 600 Overview of Article 19

• UCP 600 Article 19
• Transport Document Covering at Least Two
  Different Modes of
• Transport
• Articles 19 (b) and (c)
• b. For the purpose of this article, transhipment
  means unloading from one means of conveyance and
  reloading to another means of conveyance (whether
  or not in different modes of transport) during
  the carriage from the place of dispatch, taking
  in charge or shipment to the place of final
  destination stated in the credit.
• c. i. A transport document may indicate that the
  goods will or may be transhipped provided that
  the entire carriage is covered by one and the
  same transport document.
• ii. A transport document indicating that
  transhipment will or may take place is
  acceptable, even if the credit prohibits
  transhipment.

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? ??????? ???? ??? ???? ?? marine bill
of lading ocean bill of lading on board
bill of lading Shipped bill of lading
port-to-port bill of lading B/L(???????? ??
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(1)Title? ???? multimodal transport B/L
Bill of Lading for Combined Transport
shipment or Port-to- Port Shipment
(2)the carrier or a named agent the
master or a named agent
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(3) a named vessel? ?? on board notation
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1 charter-party B/L
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ABC Lines carrier


ABC Lines


by
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To order..
To order of Shipper
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To order of (the L/C openning bank)
To order of (the negotiating bank)
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Blank endorsed(?????)
ABC Co. ??
Manager ??? ??
Deliver to xxx Co. ABC Co.
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Transhipment
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O
X
Port of Loading Busan
Port of Loading Busan
Port of Discharge Hong Kong
Port of transhipment Hong Kong
Final Destination Shanghai
Port of Discharge Shanghai
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(1)Ocean B/L, Non-negotiable Sea Waybill,
Charter-party B/L Shipped B/L-B/L ???? On
Board B/L-???? ?? ?? (2)Multimodal Transport
B/L ??, ??, ????-B/L???? ?? ??? ???? (3)AWB
accepted for carriage--???? AWB?? flight date
(4)Courier, Post Receipts ??????? ???? ??
???(the date of pick-up)
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UCP 600 Overview of Article 20

• UCP 600 Article 20
• Bill of Lading
• Article 20 (a) (i)
• i. indicate the name of the carrier and be signed
  by
• the carrier or a named agent for or on behalf
  of the carrier, or
• the master or a named agent for or on behalf
  of the master.
• Any signature by the carrier, master or agent
  must be identified as that of the carrier, master
  or agent.
• Any signature by an agent must indicate whether
  the agent has signed for or on behalf of the
  carrier or for or on behalf of the master.
• NOTE consistent style for all transport articles

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UCP 600 Overview of Article 20

• UCP 600 Article 20
• Bill of Lading
• Article 20 (a) (iii)
• If the bill of lading does not indicate the
  port of loading stated in the credit as the port
  of loading an on board notation indicating the
  port of loading as stated in the credit, the date
  of shipment and the name of the vessel is
  required

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ISBP Paragraph 98

• While the named port of loading, as required
  by the credit, should appear in the port of
  loading field within the bill of lading, it may
  instead be stated in the field headed "Place" "of
  receipt" or the like, if it is clear that the
  goods were transported from that place of receipt
  by vessel, and provided there is an on board
  notation evidencing that the goods were loaded on
  that vessel at the port stated under "Place of
  receipt" or like term.

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ISBP Paragraph 99

• While the named port of discharge, as
  required by the credit, should appear in the port
  of discharge field within the bill of lading, it
  may be stated in the field headed "Place of final
  destination" or the like if it is clear that the
  goods were to be transported to that place of
  final destination by vessel, and provided there
  is a notation evidencing that the port of
  discharge is that stated under "Place of final
  destination" or like term.

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UCP 600 Overview of Article 20

• UCP 600 Article 20
• Bill of Lading
• No reference to sail
• Not necessary due to definition of Complying
  Presentation

• UCP 500 Article 23
• iv. consists of a sole original bill of lading
  or, if issued in more than one original, the full
  set as so issued,
• and
• v. appears to contain all of the terms and
  conditions of carriage, or some of such terms and
  conditions by reference to a source or document
  other than the bill of lading (short form/blank
  back bill of lading) banks will not examine the
  contents of such terms and conditions,
• and
• vi. contains no indication that it is subject to
  a charter party and/or no indication that the
  carrying vessel is propelled by sail only,
• and
• vii. in all other respects meets the stipulations
  of the Credit.

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UCP 600 Overview of Article 20

• UCP 600 Article 20
• Bill of Lading
• Articles 20 (b), (c) and (d)
• b. For the purpose of this article, transhipment
  means unloading from one vessel and reloading to
  another vessel during the carriage from the port
  of loading to the port of discharge stated in the
  credit.
• c. i. A bill of lading may indicate that the
  goods will or may be transhipped provided that
  the entire carriage is covered by one and the
  same bill of lading.
• ii. A bill of lading indicating that
  transhipment will or may take place is
  acceptable, even if the credit prohibits
  transhipment, if the goods have been shipped in a
  container, trailer or LASH barge as evidenced by
  the bill of lading.
• d. Clauses in a bill of lading stating that
  the carrier reserves the right to tranship will
  be disregarded.

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• The master or a named agent
• The owner of a named agent
• The charterer of a named agent

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UCP 600 Overview of Article 22

• UCP 600 Article 22
• Charter Party Bill of Lading
• Geographical or region as port of discharge is
  acceptable
• Reference to sail is deleted
• Not necessary due to definition of Complying
  Presentation

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UCP 600 Overview of Article 23

• UCP 600 Article 23
• Air Transport Document
• Articles 23 (b) and (c)
• b. For the purpose of this article, transhipment
  means unloading from one aircraft and reloading
  to another aircraft during the carriage from the
  airport of departure to the airport of
  destination stated in the credit.
• c. i. An air transport document may indicate that
  the goods will or may be transhipped, provided
  that the entire carriage is covered by one and
  the same air transport document.
• ii. An air transport document indicating that
  transhipment will or may take place is
  acceptable, even if the credit prohibits
  transhipment.
•  

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Airport of Departure and requested
routingVancouver to Frankfurt/Main Germany
To FRA
By CA
To YYZ
Routing and Destination
By first Carrier AC YVR/YYZ/FRA
Flight DateAC580/ 9 APR
Flight DateCA872/10 APR
Airport of DestinationFrankfurt/Main Airport
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UCP 600 Overview of Article 25

• UCP 600 Article 25
• Courier Receipt, Post Receipt or
• Certificate of Posting
• Removal of expedited delivery service
• Covering receipt of goods for transport
• Article 1 exclude or modify
• On its face
• Authenticated removed
• Not necessary due to definition of Complying
  Presentation

• UCP 500 Article 29
• b If a Credit calls for a document issued by a
  courier or expedited delivery service evidencing
  receipt of the goods for delivery, banks will,
  unless otherwise stipulated in the Credit, accept
  a document, however named, which
• i. appears on its face to indicate the name of
  the courier/service, and to have been stamped,
  signed or otherwise authenticated by such named
  courier/service (unless the Credit specifically
  calls for a document issued by a named
  Courier/Service, banks will accept a document
  issued by any Courier/Service),
• and
• ii. indicates a date of pick-up or of receipt or
  wording to this effect, such date being deemed
  to be the date of shipment or dispatch,
• and
• iii. in all other respects meets the
  stipulations of the Credit.

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• Handwriting, facsimile signature, perforated
  signature, stamp, symbol or any other mechanical
  or electronic method of authentication

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  either the original or duplicate may be
  presented in the event of a claim?? ???? ????
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Document 470/TA.638(2007.10)

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• To exclude this rule may, in a vast number of
  transactions, create an unworkable letter of
  credit or necessitate the beneficiary obtaining
  an amendment in order to allow specific exclusion
  clause or the removal of the restriction
  completely.

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lost or not lost clause
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UCP 600 Overview of Article 35

• UCP 600 Article 35
• Disclaimer on Transmission and Translation
• If a nominated bank determines that a
  presentation is complying and
• forwards the documents to the issuing bank or
  confirming bank,
• whether or not the nominated bank has honoured or
  negotiated, an
• issuing bank or confirming bank must honour or
  negotiate, or
• reimburse that nominated bank, even when the
  documents have
• been lost in transit between the nominated bank
  and the issuing
• bank or confirming bank, or between the
  confirming bank and the
• issuing bank.

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• As a consequence, discrepant documents or
  documents that have been examined and forwarded
  to an issuing bank or confirming bank , and are
  lost in transit, and not covered by article 35.

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• R.548
• Notwithstanding the fact that the reimbursement
  instruction in the credit reads, Upon receipt of
  full set of documents in conformity with L/C
  terms, we will effect payment as per your
  instruction.

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UCP 600 Overview of Article 38

• UCP 600 Article 38
• Transferable Credits
• Article 38 (b)
• Transferable credit means a credit that
  specifically states it is transferable. A
  transferable credit may be made available in
  whole or in part to another beneficiary (second
  beneficiary) at the request of the beneficiary
  (first beneficiary).
• Transferring bank means a nominated bank that
  transfers the credit or, in a credit available
  with any bank, a bank that is specifically
  authorized by the issuing bank to transfer and
  that transfers the credit. An issuing bank may be
  a transferring bank.
• Transferred credit means a credit that has been
  made available by the transferring bank to a
  second beneficiary.

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Dealing with Chinese L/C
Legal Interpretation No.5(2002)
Jurisdiction over Foreign Related Commercial
Cases 101 PRC courts Supreme Court
High Courts of 4 municipalities 27
provinces 70 Intermediate Courts

• Peoples Supreme Court
• High Peoples Courts
• Other Courts

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