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eUCP Version 2.0: Article e8 Notice of Refusal

14/06/2019

The procedure defined in UCP 600 sub-articles 16 (c) and (d) (Discrepant Documents, Waiver and Notice) still applies, and the notice of refusal must still be given by telecommunication, which will include modern electronic methods of communication. 

 

Article e8 outlines that unless the presenter provides instructions within 30 calendar days from the date that the notice of refusal is given, then the bank should return any paper documents (if any are held), and may also dispose of any electronic records in a manner that they consider as appropriate. This article places the responsibility of communicating disposal instructions regarding the treatment of electronic records on the beneficiary.

 

It is quite conceivable that, with electronic records, there may be several presenters. If a beneficiary requires electronic records to be returned to a specific entity other than the presenter, it should so state in its notice of completeness or in a timely response to the notice of refusal.

 

Always bear in mind that there is unlikely to be any unique value attached to an electronic record and, therefore, less reason to place any emphasis on return. 

 

 

 

 

 

 

 

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