ICC Draft Opinions October 2023



A credit subject to UCP 600 required that the invoices must confirm accordance with a specific quotation number. Whilst the presented invoices clearly referenced the quotation number, the word "confirm" was not included. This was raised as  discrepancy by the confirming bank.


Furthermore, the credit also required a certificate issued by a carrier or its agent. A subsequent amendment replaced this requirement with a new specified certificate. The presented certificate was refused by the confirming bank on the basis that the certificate was "short of one original". 




A documentary collection subject to URC 522 including instructions to deliver documents strictly against payment only.


Subsequently, it appeared that the collecting bank had released the documents to the drawee without receiving payment 




A credit, subject to UCP 600, required presentation of documents to occur within 21 days after the date of shipment. 


According to the date on the negotiating bank's covering letter, the actual presentation occurred 22 days after the date of shipment. However, the negotiating bank had included a statement in the covering letter highlighting that all terms and conditions of the credit had been complied with. 




A documentary credit was issued subject to UCP 600 requiring a CMR (Original for Shipper), and an original EUR1 certificate. Documents were to be issued in English.


Documents were subsequently presented and the issuing bank refused the documents on the basis of two discrepancies, the presented CMR not being an original for shipper, and the EUR1 certificate including a word not in the English language. .


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