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April 2016

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• Signing of Charter Party Bills of Lading

  28/04/2016
  CPBL's are bills of lading that are issued subject to the terms and conditions of a charter party...

• UCP comparison Part 8 - Transfer & Assignment

  21/04/2016
  Article 38 - Transfer The concept of a transfer under a credit was outlined in the first UCP, publication 82: "A credit can only be transferred on the express authority of the principal...

• UCP 600 comparison Part 7 - Disclaimers

  18/04/2016
  Article 34 - Disclaimer UCP 82, article 11, contains a disclaimer rule that is not too dissimilar to that which appears in UCP 600, article 34 - "Banks assume no liability or responsibility for the form, sufficiency, correctness, genuineness, falsification or legal effect of any documents or papers, or for the description, quantity, weight, quality, condition, packing, delivery or value of goods represented thereby, or for the general and/or particular conditions stipulated in the documents, or for the good faith or acts of the consignee or any other person whomsoever, or for the solvency, standing, of the carriers or insurers of the goods...

• UCP comparison Part 6 - Articles 29-33

  15/04/2016
  Article 29 - Extension UCP 82, article 40, contained a rule regarding the expiry date falling on a non-banking day that is not too dissimilar from that which appears in UCP 600 sub-articles 29 (a) and (c)...

• UCP comparison Part 5 - Shipping Documents

  12/04/2016
  Article 19 - Combined Transport document The first reference to such a document appeared in UCP 290, article 23...

• UCP comparison Part 4 - Invoice and Insurance

  08/04/2016
  Article 18 - Invoice The content of UCP 82 included two articles related to invoices...

• UCP comparison Part 3 - Examination of documents, compliance and discrepancies

  06/04/2016
  Article 14 - Examination of documents UCP 82, article 10, contained a very simple rule regarding the examination of documents - 'Banks must examine all documents and papers with care so as to ascertain that on their face they appear to be in order...

• UCP comparison Part 2 - Bank responsibilities

  04/04/2016
  Article 6 - Presentation requirements UCP 82, article 38, only made allowance for credits that were available by payment and the credit was to indicate a time for it to remain in force for payment or shipment...