New Draft Opinions from the ICC
The ICC have circulated 5 new Draft Opinions (TA941-TA945, which will be discussed at the July 2024 Banking Commission meeting (to be held virtually).
470/TA941: Conditions as per survey report
The Query concerns a bill of lading that is refused on the basis of the following text on the bill of lading:
“Cargo Conditions As Per Survey Report issued by [name of survey company].”
470/TA942: Authenticated guarantee demand
The Query concerns a demand under a guarantee was issued subject to URDG 758.
The core question asked is if a authentic SWIFT message was required.
470/TA943: Documents sent on approval basis
The Query concerns a presentation of documents that were lost in transit between the advising bank and the issuing bank. The documents were not examined by the nominated bank, and a key question is what is actually meant when it is said that documents are sent “on approval basis”.
470/TA944: CP Bill of Lading consigned to the order of YYYY for and o/b of Beneficiary
The Query is a question about how a CP bill of lading that is “consigned to the order of YYYY for and o/b of Beneficiary” must be endorsed.
470/TA945: Empty envelope received
The Query concerns a case where the envelope that were supposed to contain the documents were received empty, undamaged and sealed.