Skip to main content

UCP 600 - Article 23 to Article 27

UCP 600 - Article 23

Air Transport Document

a. An air transport document, however named, must appear to:

i. indicate the name of the carrier and be signed by:

- the carrier, or

- a named agent for or on behalf of the carrier.

Any signature by the carrier or agent must be identified as that of the carrier or agent.

Any signature by an agent must indicate that the agent has signed for or on behalf of the carrier.

ii.indicate that the goods have been accepted for carriage.

iii. indicate the date of issuance. This date will be deemed to be the date of shipment unless the air
transport document contains a specific notation of the actual date of shipment, in which case the date stated in the notation will be deemed to be the date of shipment.
Any other information appearing on the air transport document relative to the flight number and date will
not be considered in determining the date of shipment.

iv. indicate the airport of departure and the airport of destination stated in the credit.

v. be the original for consignor or shipper, even if the credit stipulates a full set of originals.

vi. contain terms and conditions of carriage or make reference to another source containing the terms and
conditions of carriage. Contents of terms and conditions of carriage will not be examined.

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.

UCP 600 - Article 24

Road, Rail or Inland Waterway Transport Documents

a. A road, rail or inland waterway transport document, however named, must appear to:

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
- indicate receipt of the goods by signature, stamp or notation by the carrier or a named agent for or on
behalf of the carrier. Any signature, stamp or notation of receipt of the goods by the carrier or agent must be identified as that of the carrier or agent. Any signature, stamp or notation of receipt of the goods by the agent must indicate that the agent has
signed or acted for or on behalf of the carrier. If a rail transport document does not identify the carrier, any signature or stamp of the railway company will be accepted as evidence of the document being signed by the carrier.

ii. indicate the date of shipment or the date the goods have been received for shipment, dispatch or carriage at the place stated in the credit. Unless the transport document contains a dated reception stamp, an
indication of the date of receipt or a date of shipment, the date of issuance of the transport document will be deemed to be the date of shipment.

iii. indicate the place of shipment and the place of destination stated in the credit.

b.

i. A road transport document must appear to be the original for consignor or shipper or bear no marking
indicating for whom the document has been prepared.

ii. A rail transport document marked "duplicate" will be accepted as an original.

iii. A rail or inland waterway transport document will be accepted as an original whether marked as an
original or not.

c. In the absence of an indication on the transport document as to the number of originals issued, the
number presented will be deemed to constitute a full set.

d. For the purpose of this article, transhipment means unloading from one means of conveyance and
reloading to another means of conveyance, within the same mode of transport, during the carriage from the

place of shipment, dispatch or carriage to the place of destination stated in the credit.

e.

i. A road, rail or inland waterway 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 road, rail or inland waterway transport document indicating that transhipment will or may take place is acceptable, even if the credit prohibits transhipment.

UCP 600 - Article 25

Courier Receipt, Post Receipt or Certificate of Posting

a. A courier receipt, however named, evidencing receipt of goods for transport, must appear to:

i. indicate the name of the courier service and be stamped or signed by the named courier service at the
place from which the credit states the goods are to be shipped; and

ii. indicate a date of pick-up or of receipt or wording to this effect. This date will be deemed to be the date
of shipment.

b. A requirement that courier charges are to be paid or prepaid may be satisfied by a transport document
issued by a courier service evidencing that courier charges are for the account of a party other than the
consignee.

c. A post receipt or certificate of posting, however named, evidencing receipt of goods for transport, must
appear to be stamped or signed and dated at the place from which the credit states the goods are to be
shipped. This date will be deemed to be the date of shipment.

UCP 600 - Article 26

On Deck", "Shipper's Load and Count", "Said by Shipper to Contain" and Charges Additional to Freight

a. A transport document must not indicate that the goods are or will be loaded on deck. A clause on a
transport document stating that the goods may be loaded on deck is acceptable.

b. A transport document bearing a clause such as "shipper's load and count" and "said by shipper to
contain" is acceptable.

c. A transport document may bear a reference, by stamp or otherwise, to charges additional to the freight.

UCP 600 - Article 27

Clean Transport Document

A bank will only accept a clean transport document. A clean transport document is one bearing no clause or notation expressly declaring a defective condition of the goods or their packaging. The word "clean" need not appear on a transport document, even if a credit has a requirement for that transport document to be "clean on board".


Comments

Popular posts from this blog

What is MICR Cheques – Features, Specifications and Advantages

MICR Cheque:  The short form for Magnetic Ink Character Recognition is MICR, which is a recognition technology based on characters printed with magnetic ink or toner and processed by being magnetized and sensed magnetically. MICR characters are printed information on documents so that the code line information can be captured by magnetic recognition. Advantage of MICR: MICR encoded cheque book has some major advantages: v   Quick processing and reduced cheque clearing time v   Reduced cheque related fraudulent activities Features of MICR Cheque: The MICR Cheque has to have the following measurement:       Payor Institution Area       Cheque Number and Date Area       Payee and Legal Amount Area       Convenience Amount      Account Title      Signature Area       MICR Area click the image to enlarge Paper Standard: The paper on which MICR cheques are printed must be the CBS1 (Clearing Bank Specification 1 Or Clearing Ba

UCP 600 Articles - Article 3 to Article 7

UCP 600 - Article 3 Interpretations For the purpose of these rules: Where applicable, words in the singular include the plural and in the plural include the singular. A credit is irrevocable even if there is no indication to that effect. A document may be signed by handwriting, facsimile signature, perforated signature, stamp, symbol or any other mechanical or electronic method of authentication. A requirement for a document to be legalized, visaed, certified or similar will be satisfied by any signature, mark, stamp or label on the document which appears to satisfy that requirement. Branches of a bank in different countries are considered to be separate banks. Terms such as "first class", "well known", "qualified", "independent", "official", "competent" or "local" used to describe the issuer of a document allow any issuer except the beneficiary to issue that document. Unless required to

Major Objectives of SME ( Small and Medium Enterprise)

Keeping in view the Industrial policies and socio-economic policy of the Government, the major objectives of SMEs are: to reduce unemployment through generation of new employment opportunities, specially for the rural people; to increase the income of poor people by self employment through indigenous resources and technology; to generate employment through entrepreneurship development; to discourage influx of the rural people to the urban areas through rural industrialization; to encourage geographical dispersal of industries and ensure balanced regional development; to promote sub-contracting linkages among the various types of large, medium &  small enterprises; to encourage production of export-oriented and import substitute products through promotion of  small agro-based industries and to increase the contribution of SMEs sector to GDP.