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2 New ICC Opinions approved by the ICC Banking Commission

This week the ICC met – virtually and in Paris. During the session discussing the new Draft Opinions 2 new ICC Opinions were approved. Those have just been circulated to the ICC National Committees.

First, ICC Opinion TA935rev was approved after resubmission.

The core information in the query is:

LC information:

The LC required presentation of a bill of lading, and further indicated:

44F: Port of Discharge: CAT LAI PORT, HOCHIMINH CITY, VIETNAM

Presentation information:

Port of Discharge: HOCHIMINH CITY, VIETNAM

Place of Delivery: CAT LAI PORT, HOCHIMINH CITY, VIETNAM

The presentation was refused on the basis that the “BILL OF LADING SHOWING 'CAT LAI PORT' AS PLACE OF DELIVERY I/O AS PORT OF DISCHARGE WITHOUT NOTATION EVIDENCING PORT OF DISCHARGE IS 'CAT LAI PORT'”

The question asked is if this is a valid discrepancy.

The answer from the ICC is that it is a valid discrepancy.

Second, ICC Opiniion TA940 was also approved. The query related to a guarantee issued subject to URDG 758 and wh >... Read The Full Post