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UCPDC 600 ARTICLE 15-17

UCPDC 600 ARTICLE 15-17

ARTICLE 15:Complying Presentation

a. When an issuing bank determines that a presentation is complying, it must honour. b. When a confirming bank determines that a presentation is complying, it must honour or negotiate and forward the documents to the issuing bank. c. When a nominated bank determines that a presentation is complying and honours or negotiates, it must forward the documents to the confirming bank or issuing bank.

ARTICLE 16:Discrepant Documents,Waiver and Notice

a. When a nominated bank acting on its nomination a confirming bank,if any or the issuing bank determines that a presentation does nor comply it may refuse to honour or negotiate. b. When an issuing bank determines that a presentation does not comply,it may in its sole judgment approsch the applicant for a waiver of the discrepancies . This does not, however, extend the period mentioned in sub article 14(b). c. When a nominated bank acting on its nomination , a confirming bank, if any or the issuing bank decides to refuse to honour or negotiate , it must give a single notice to that effect to the presenter. The notice must state: i. That the bank is refusing to honour or negotiate; and ii. Each discrepancy in respect of which the bank refuses to honour or negotiate and iii. A) that the bank is holding the documents pending further instructions from the presenter or b) that the issuing bank is holding the documents until it receives a waiver from the applicant and agrees to accept it, or receives further instructions from the presenter prior to agreeing to accept a waiver; or c) that the bank is returning the documents or d) that the bank is acting in accordance with instructions previously received from the presenter. d. The notice required in sub-article 16 (C) must be given by telecommunication or if that is not possible ,by other expeditious means no later than the close of the fifth banking day following the day of presentation. e.A nominated bank acting on its nomination a confirming bank, if any or the issuing bank may after providing notice required by sub article 16 (C) (iii) (a) or (b) return the documents to the presenter at any time. f. if an issuing bank or a confirming bank fails to act in accordance with the provisions of this article , it shall be precluded from claiming that the documents do not constitute a complying presentation. g. When an issuing bank refuses to honour or a confirming bank refuses to honour or negotiate and has given notice to that effect in accordance with this article, it shall then be entitled to claim a refund, with interest of any reimbursement made.

ARTICLE 17:Original Documents and Copies

a. At least one original of each document stipulated in the credit must be presented. b. A bank shall t treat as an original any document bearing an apparently original signature ,mark, stamp or label of the issuer of the document, unless the document itself indicates that it is not an original. c. Unless a document indicates otherwise, a bank will also accept a document as original if it: i. appears to be written , typed, perforated or stamped by the document issuers hand ;or ii. appears to be on the document issuers original stationery ;or iii. states that it is original , unless the statement appears not to apply to the document presented . d. If a credit requires presentation of copies of documents presentation of either originals or copies is permitted. e. If a credit requires presentation of multiple documents by using terms such as “in duplicate”, “in two fold” or “in two copies” , this will be satisfied by the presentation of at least one original and the remaining number in copies ,except when the document itself indicates otherwise.

 


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