The ICC have published Technical Advisory Briefing Number 8
Last week the ICC published Technical Advisory Briefing Number 8: Handling of Certificates under Documentary Credits subject to the UCP 600.
As the headline indicates, this is the 8th Technical Advisory Briefing published by the ICC. All of those are freely available from the ICC website:
https://library.iccwbo.org/tfb/tfb-briefings.htm
The Technical Advisory Briefings are drafted by the expanded group of ICC Technical Advisors under the perfect leadership of Senior Advisor David Meynell!
The Briefings dive down into the various practices – and offer guidance – to specific topics that often are pain points in the practical handling of documentary credits.
Technical Advisory Briefing Number 8 is no exception. It deals with the handling of Certificates under Documentary Credits subject to the UCP 600.
Through 7 pages the document addresses practically every angle of certificates presented and examined under documentary credits.
The analysis covers the following issues:
* Basic requirement and function
* Issuer
* Content
* Non-documentary conditions
* Statements
* Consignee
* Consignor
* Invoice details
In addition, the document walks through some “general principles”:
* Documentary credit reference number
* Grammatical issues
* Signing and dating
* Completion of boxes, fields or a space for data
* Shipping marks
* Dual purpose documents
As you can see from this list, this is really a comprehensive walk through the issue of “certificates”. Of course, all relevant references to UCP 600 and ISBP 821 are mentioned throughout the document.
This is a document that has benefitted greatly by the expanded group of ICC Technical Advisors.
In other words, there is a lot to learn from this 8th Technical Advisory Briefing and like the previous ones – it is available free of charge from the ICC website!
Thanks to the ICC for taking good care of the LC!
Kind regards
Kim