be signed by: kn 508 slide ucp 600

i. be signed by:

- t he m ast er or a nam ed agent f or or on behalf of t he m ast er, or - t he ow ner or a nam ed agent f or or on behalf of t he ow ner , or - t he chart erer or a nam ed agent for or on behalf of t he chart erer. Any signat ure by t he m ast er, ow ner, ch ar t er er or agent m ust be ident ified as t hat of t he m ast er, ow ner, chart erer or agent . Any signat ure by an agent m ust indicat e w het h er t he agent has signed for or on behalf of t he m ast er, ow ner or chart er er . An agent signing for or on behalf of t he ow ner or char t er er m ust indicat e t he nam e of t he ow ner or chart erer . ii. indicat e t hat t he goods hav e been shipped on board a nam ed v essel at t he port of loading st at ed in t he credit by : - pre- print ed w ording, or - an on board not at ion indicat ing t he dat e on w hich t he goods h ave been shipped on board. The dat e of issuance of t he chart er part y bill of lading w ill be deem ed t o be t he dat e of shipm ent unless t he chart er part y bill of lading cont ain s an on board not at ion indicat ing t he dat e of shipm ent , in w hich case t he dat e st at ed in t he on board not at ion w ill be deem ed t o be t he dat e of shipm ent . iii. indicat e shipm ent from t he por t of loading t o t he port of discharge st at ed in t he credit . The port of dischar ge m ay also be show n as a range of port s or a geographical ar ea, as st at ed in t he credit . iv. be t he sole original chart er part y bill of lading or, if issued in m ore t han one original, be t he full set as indicat ed on t he ch art er part y bill of lading. b. A bank w ill not ex am ine chart er part y cont ract s, even if t hey are required t o be present ed by t he t erm s of t he credit . U CP 6 0 0 - Ar t icle 2 3 Air Tran sport Docum ent a . An air t r ansport docu m ent , how ev er nam ed, m u st app ear t o: i. indicat e t he nam e of t he carrier and be signed by : - t he carrier, or - a nam ed agent for or on behalf of t he carrier . Any signat ure by t he carrier or agent m ust be ident if ied as t hat of t he carrier or agent . Any signat ure by an agent m ust indicat e t hat t he agent has signed for or on beh alf of t he carrier. ii.indicat e t hat t he good s hav e been accept ed for carriag e. iii. indicat e t he dat e of issuance. This dat e w ill be deem ed t o be t he dat e of shipm ent unless t he air t r ansp ort docum ent cont ains a specif ic not at ion of t he act ual dat e of shipm ent , in w hich case t he dat e st at ed in t he not at ion w ill be deem ed t o be t he dat e of shipm ent . Any ot her inform at ion appearing on t he air t ransport docum ent relat iv e t o t he flight num ber and dat e w ill not be con sidered in det erm ining t he dat e of shipm ent . iv. indicat e t he airport of depart ure and t he airport of dest inat ion st at ed in t he credit . v. be t he original for consignor or shipper, ev en if t he credit st ipulat es a full set of originals. vi. cont ain t erm s and condit ions of carriage or m ak e reference t o an ot her sour ce cont aining t he t erm s and condit ions of carriage. Cont ent s of t erm s and condit ions of car riage w ill not be ex am ined. b. For t he purpose of t his art icle, t ranshipm ent m eans u nloading fr om on e aircraft and reloading t o anot her air cr af t during t he carriage from t he airpor t of depart ure t o t he airport of dest inat ion st at ed in t he credit . c. i. An air t ransport docum ent m ay indicat e t hat t he goods w ill or m ay be t ranshipped, prov ided t hat t he ent ire carriage is cov ered by one and t he sam e air t ranspor t docu m ent . ii. An air t ransport docum ent indicat ing t hat t r an shipm ent w ill or m ay t ake place is accept able, even if t he credit prohibit s t ranshipm ent . U CP 6 0 0 - Ar t icle 2 4 Road, Rail or I nland Wat erw ay Transp ort Docum ent s a . A road, rail or inland w at er w ay t ransport docum ent , h ow ev er nam ed, m ust appear t o: i. indicat e t he nam e of t he carrier and: - be signed by t he carrier or a nam ed agent for or on behalf of t he carrier, or - indicat e receipt of t he goods by signat ure, st am p or n ot at ion by t he carrier or a nam ed agent for or on behalf of t he carrier. Any signat ure, st am p or not at ion of receipt of t he goods by t he carr ier or agent m ust be ident ified as t hat of t he carrier or agent . Any signat ure, st am p or not at ion of receipt of t he goods by t he agent m ust indicat e t hat t he agent has signed or act ed for or on behalf of t he car rier. I f a rail t ransport docum ent does not ident ify t he carrier, any signat ure or st am p of t he railw ay com pany w ill be accept ed as ev idence of t he docum ent being signed by t he carrier. ii. indicat e t he dat e of shipm ent or t he dat e t he goods h ave been receiv ed for shipm ent , dispat ch or carriage at t he place st at ed in t he credit . Unless t he t ransport docum ent cont ain s a dat ed recept ion st am p, an indicat ion of t he dat e of receipt or a dat e of shipm ent , t he dat e of issuance of t he t ransport docu m ent w ill be deem ed t o be t he dat e of shipm ent . iii. indicat e t he place of shipm ent and t he place of dest inat ion st at ed in t he credit . b. i. A road t r ansport docu m ent m u st appear t o be t he original for consignor or shipper or bear n o m ark ing indicat ing for w hom t he docum ent has been prepared. ii. A rail t ransport docum ent m ark ed d uplicat e w ill be accept ed as an original. iii. A rail or inland w at erw ay t ransport docum ent w ill be accept ed as an original w het her m arked as an original or not . c. I n t he ab sence of an indicat ion on t he t ran sport docu m ent as t o t he num ber of originals issued, t he num ber present ed w ill be deem ed t o const it ut e a full set . d. For t he purpose of t his art icle, t ranshipm ent m eans u nloading fr om on e m ean s of convey ance and reloading t o anot her m eans of convey ance, w it hin t he sam e m ode of t ransp ort , during t he carr iage f rom t he place of shipm ent , dispat ch or carriage t o t he place of dest inat ion st at ed in t he credit . e . i. A road, r ail or inland w at erw ay t ransport docu m ent m ay indicat e t hat t he goods w ill or m ay be t r anshipped prov ided t hat t he ent ire carr iage is covered by one and t he sam e t ran sport docu m ent . ii. A road, rail or inland w at er w ay t ransp or t docu m ent in dicat ing t hat t ranshipm ent w ill or m ay t ak e place is accept able, ev en if t he credit prohibit s t ranshipm ent . U CP 6 0 0 - Ar t icle 2 5 Courier Receipt , Post Receipt or Cert ificat e of Post ing a . A cour ier receipt , how ever nam ed, ev idencing receipt of goods for t ransp ort , m ust appear t o: i. indicat e t he nam e of t he cour ier service and be st am p ed or signed by t he nam ed courier serv ice at t he place from w hich t he credit st at es t he goods are t o be sh ipped; and ii. indicat e a dat e of pick - up or of receipt or w ording t o this effect . This dat e w ill be deem ed t o be t he dat e of shipm ent . b. A requirem ent t hat courier ch arges are t o be paid or prepaid m ay be sat isfied by a t ransport docum ent issued by a courier serv ice ev idencing t hat courier char g es are f or t he account of a part y ot her t han t he con signee. c. A post receipt or cert if icat e of post ing, how ev er nam ed, evidencing receipt of goods for t r ansport , m ust appear t o be st am ped or signed and dat ed at t he place from w hich t he credit st at es t he goods are t o be shipped. This dat e w ill be deem ed t o be t he dat e of shipm ent . U CP 6 0 0 - Ar t icle 2 6 On Deck , Shippers Load and Cou nt , Said by Shipper t o Cont ain and Charges Addit ional t o Freight a . A t ransport docu m ent m u st not indicat e t hat t he goods are or w ill be loaded on deck . A clause on a t r ansp ort docum ent st at ing t hat t he good s m ay be loaded on deck is accept able. b. A t ransport docum ent bearing a clau se su ch as shipp er s load and count and said by shipper t o cont ain is accept able. c. A t r ansport docu m ent m ay bear a ref erence, by st am p or ot herw ise, t o charges addit ional t o t he f reight . U CP 6 0 0 - Ar t icle 2 7 Clean Tran sport Docum ent A bank w ill only accept a clean t ransp ort docum ent . A clean t ransp or t docum ent is one bearing no clause or not at ion ex pressly declar ing a defect iv e condit ion of t he goods or t heir pack aging. The w ord clean need not appear on a t ranspor t docu m ent , even if a credit has a requirem ent for t hat t ransport docum ent t o be clean on board . U CP 6 0 0 - Ar t icle 2 8 I n sur ance Docum ent and Cov erage a . An insurance docu m ent , such as an insurance policy, an insurance cert ificat e or a declarat ion under an open cov er , m ust appear t o be issued and signed by an insur an ce com pany, an underw rit er or t heir agent s or t heir prox ies. Any signat ure by an agent or prox y m ust indicat e w het h er t he agent or prox y has signed for or on behalf of t he insurance com pany or underw rit er. b. When t he insur ance docum ent indicat es t hat it has been issued in m ore t han one original, all originals m ust be present ed. c. Cov er not es w ill not be accept ed. d. An insur ance policy is accept able in lieu of an insuran ce cert ificat e or a declarat ion under an open cover. e . The dat e of t he insurance docum ent m ust be no lat er t han t he dat e of shipm ent , unless it appears f rom t he insurance docu m ent t hat t he cov er is eff ect iv e from a dat e not lat er t han t he dat e of shipm ent . f. i.The insurance docum ent m ust indicat e t he am ount of insur an ce cov erage and be in t he sam e currency as t he credit . ii. A requirem ent in t he credit for insurance coverage t o be for a percent age of t he v alue of t he goods, of t he inv oice v alue or sim ilar is deem ed t o be t he m inim um am ou nt of cov erage requir ed. I f t her e is no indicat ion in t he credit of t he insurance cov erage required, t he am ount of insurance cov erage m ust be at least 110 of t he CI F or CI P v alue of t he goods. When t he CI F or CI P value cannot be det erm ined from t h e docum ent s, t he am ou nt of insuran ce coverage m ust be calculat ed on t he basis of t he am ount for w hich honour or negot iat ion is request ed or t he gross v alue of t he goods as show n on t he invoice, w hichev er is great er. iii. The insur an ce docum ent m ust indicat e t hat r isk s ar e cov ered at least bet w een t he place of t ak ing in charge or shipm ent and t he place of discharge or final dest inat ion as st at ed in t he credit . g. A credit should st at e t he t ype of insurance required and, if any , t he addit ional risk s t o be cov ered. An insurance docum ent w ill be accept ed w it hout regard t o any risks t hat are not covered if t he cr edit uses im precise t erm s such as usual risks or cust om ary risk s . h . When a credit requires insurance against all risk s and an insur an ce docum ent is present ed cont aining any all r isk s not at ion or clause, w het her or not bearing t he heading all risks , t he insuran ce docum ent w ill be accept ed w it hout regard t o any risk s st at ed t o be ex cluded. i. An insuran ce docum ent m ay cont ain reference t o any exclusion clause. j . An insurance docum ent m ay indicat e t hat t he cov er is subj ect t o a franchise or ex cess dedu ct ible . U CP 6 0 0 - Ar t icle 2 9 a . I f t he expiry dat e of a credit or t he last day for present at ion f alls on a day w hen t he bank t o w hich present at i on is t o be m ade is closed for reasons ot her t han t hose referred t o in art icle 36, t he ex piry dat e or t he last day for present at ion, as t he case m ay be, w ill be ex t ended t o t he fir st follow ing banking day . b. I f present at ion is m ade on t he first follow ing bank ing day , a nom inat ed bank m ust prov ide t he issuing bank or confirm ing bank w it h a st at em ent on it s covering schedule t hat t he pr esent at ion w as m ade w it hin t he t im e lim it s ex t ended in accordance w it h sub- art icle 29 a . c. The lat est dat e for shipm ent w ill not be ex t ended as a result of sub- art icle 29 a . U CP 6 0 0 - Ar t icle 3 0 Toler ance in Credit Am ount , Quant it y and Unit Prices a . The w ords about or appr ox im at ely used in connect ion w it h t he am ou nt of t he credit or t he quant it y or t he unit price st at ed in t he credit are t o be const rued as allow ing a t olerance not t o ex ceed 10 m ore or 10 less t han t he am ount , t he quant it y or t he unit price t o w hich t hey r efer. b. A t olerance not t o ex ceed 5 m or e or 5 less t han t he quant it y of t he goods is allow ed, provided t he credit does not st at e t he qu ant it y in t erm s of a st ipulat ed num ber of packing unit s or individual it em s and t he t ot al am ou nt of t he draw ings does not ex ceed t he am ou nt of t he credit . c. Ev en w hen part ial shipm ent s are not allow ed, a t olerance not t o ex ceed 5 less t han t he am ount of t he credit is allow ed, prov ided t hat t he quant it y of t he goods, if st at ed in t he credit , is shipped in full and a unit price, if st at ed in t he credit , is not reduced or t hat sub - art icle 30 b is not applicable. This t oler an ce does not apply w hen t he credit st ipulat es a specific t olerance or uses t he ex pr essions referred t o in sub- art icle 30 a . U CP 6 0 0 - Ar t icle 3 1 Part ial Draw ings or Shipm ent s a . Part ial draw ings or shipm ent s are allow ed. b. A present at ion consist ing of m ore t han one set of t ransport docum ent s ev iden cing shipm ent com m en cing on t he sam e m eans of conv ey an ce and for t he sam e j our ney, prov ided t hey indicat e t he sam e dest inat ion, w ill not be r egarded as covering a part ial shipm ent , ev en if t hey indicat e different dat es of shipm ent or dif ferent port s of loading, places of t ak ing in charge or dispat ch. I f t he present at ion consist s of m ore t h an one set of t ransp ort docum ent s, t he lat est dat e of shipm ent as ev idenced on any of t he set s of t ransport docum ent s w ill be regarded as t he dat e of shipm ent . A present at ion consist ing of one or m ore set s of t ranspor t docum ent s ev idencing shipm ent on m or e t han one m eans of conv ey ance w it hin t he sam e m ode of t ranspor t w ill be regarded as covering a par t ial shipm ent , even if t he m eans of conv ey ance leav e on t he sam e day for t he sam e dest in at ion. c. A present at ion consist ing of m ore t han one courier r eceipt , post receipt or cert ificat e of post ing w ill not be regarded as a part ial shipm ent if t he courier receipt s, post receipt s or cert ificat es of post ing appear t o have been st am ped or signed by t he sam e courier or post al serv ice at t he sam e place and dat e and for t he sam e dest inat ion. U CP 6 0 0 - Ar t icle 3 2 I n st alm ent Draw ings or Ship m ent s I f a draw ing or shipm ent by inst alm ent s w it hin given periods is st ipulat ed in t he credit and any inst alm ent is not draw n or shipped w it hin t he period allow ed for t hat inst alm ent , t he credit ceases t o be av ailable f or t hat and any subsequent inst alm ent . U CP 6 0 0 - Ar t icle 3 3 Hours of Present at ion A bank has no obligat ion t o accept a present at ion out sid e of it s bank ing hours. U CP 6 0 0 - Ar t icle 3 4 Disclaim er on Effect iv eness of Docum ent s A bank assum es n o liabilit y or r esponsibilit y for t he form , sufficiency , accuracy , genuineness, falsif icat ion or legal eff ect of any docum ent , or f or t he general or part icular condit ions st ipulat ed in a docum ent or superim posed t her eon; nor does it assum e any liabilit y or responsibilit y for t he descript ion, quant it y , w eight , qualit y , condit ion, packing, deliv ery , value or ex ist ence of t he goods, serv ices or ot her perf or m an ce represent ed by any docum ent , or for t he good fait h or act s or om issi on s, solv ency, perform an ce or st andin g of t he consignor, t he carrier, t he forw arder, t he con signee or t he insurer of t he goods or any ot her person. U CP 6 0 0 - Ar t icle 3 5 Disclaim er on Transm ission and Tr anslat ion A bank assum es n o liabilit y or r esponsibilit y for t he consequences arising out of delay, loss in t ransit , m ut ilat ion or ot her errors arising in t he t ransm ission of any m essages or deliv er y of let t ers or docum ent s, w hen such m essages, let t ers or docu m ent s are t ransm it t ed or sent according t o t he requirem ent s st at ed in t he credit , or w hen t he bank m ay hav e t aken t he init iat iv e in t he choice of t he deliv ery serv ice in t he absen ce of such inst r uct ions in t he credit . I f a nom inat ed bank det erm ines t hat a present at ion is com ply ing and forw ards t he docum ent s t o t he issuing bank or confirm ing bank , w het her or not t he nom inat ed bank has h onoured or neg ot iat ed, an issuing bank or confirm ing bank m ust h onour or negot iat e, or reim bur se t hat nom inat ed bank , ev en w hen t he docum ent s have been lost in t ransit bet w een t he nom inat ed bank an d t he issuing bank or confirm ing bank, or bet w een t he conf irm ing bank and t he issuing bank . A bank assum es n o liabilit y or r esponsibilit y for errors in t ranslat ion or int erpret at ion of t echnical t erm s and m ay t ransm it credit t erm s w it hout t ranslat ing t hem . U CP 6 0 0 - Ar t icle 3 6 Force Maj eure A bank assum es n o liabilit y or r esponsibilit y for t he consequences arising out of t he int errupt ion of it s business by Act s of God, riot s, civ il com m ot ions, insurrect ions, w ars, act s of t errorism , or by any st rik es or lock out s or any ot her cau ses bey ond it s cont r ol. A bank w ill not , upon resum pt ion of it s business, honour or negot iat e under a credit t hat ex pired during such int errupt ion of it s business. U CP 6 0 0 - Ar t icle 3 7 Disclaim er f or Act s of an I nst ru ct ed Part y a . A bank ut ilizing t he services of anot her bank for t he purpose of giv ing effect t o t he inst ruct ions of t he applicant does so for t he account and at t he risk of t he applicant . b. An issuing bank or adv isi ng bank assum es no liabilit y or responsibilit y should t he inst ru ct ions it t ransm it s t o anot her bank not be carried out , even if it has t ak en t he init iat ive in t he choice of t hat ot her bank . c. A bank inst ruct ing anot her bank t o perform serv ices is liable for any com m issions, fees, cost s or ex pen ses charges incurred by t hat bank in con nect ion w it h it s inst ru ct ion s. I f a credit st at es t hat charges are for t he account of t he beneficiary and charges can not be collect ed or deduct ed from proceeds, t he issuing bank rem ains liable for paym ent of charges. A credit or am endm ent should not st ipulat e t hat t he adv ising t o a beneficiary is condit ional upon t he receipt by t he adv ising bank or second advising bank of it s charges. d. The applicant shall be bound by and liable t o indem nify a bank against all obligat ions and responsibilit ies im posed by foreign law s and usages. U CP 6 0 0 - Ar t icle 3 8 Transf erable Credit s a . A bank is under no obligat ion t o t ran sfer a credit ex cept t o t he ex t ent and in t he m anner ex pressly con sent ed t o by t hat bank.

b. For t he purpose of t his art icle: