Collected DOCDEX decisions, 2009-2012 : decisions by ICC by Gary Collyer, Ron Katz

By Gary Collyer, Ron Katz

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By Gary Collyer, Ron Katz

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Example text

295 Table of contents This Decision was withdrawn. 53 International Chamber of Commerce DOCDEX Decision No. 296 UCP 600 article 16; sub-articles 16 (c), 16 (c) (ii), 16 (c) (iii), 16 (f), 17 (c), 17 (d), 14 (e), 14 (f), 14 (d); ISBP 681 paragraphs 184 and 41 Did the presentation made by the Initiator, with respect to the alleged discrepancies as stated in the issuing bank’s notice of refusal, and as intended to be clarified in subsequent correspondence, constitute a complying presentation? Did the issuing bank’s notice of refusal represent a valid notice?

811, stating inter alia - that a copy of the request and all documentation was sent to the Respondents and - the Initiator’s Summary of the Dispute; – Copy of the documentary credit no. ABC123 issued by Bank V (Respondent 2) under UCP 600 and letter of advice from Bank T (Respondent 1); – Copies of several sets of documents (including the B/L in question) forwarded to Bank T (Respondent 1) including the relevant cover letter; and – Copies of correspondence between Respondent 2 and Respondent 1 regarding the refusal.

On 31 October 2008, the Respondent sent a SWIFT MT 750, and on 3 November 2008 a MT 999 (advice of discrepancy) message detailing three discrepancies: - “Materials being sent is not as per L/C description. - Insurance policy certificate is expired. ” On 3 November 2008, the Initiator rejected the advice of discrepancies. After that date there followed various SWIFT messages from both parties, each maintaining its position. On 7 November 2008, the Respondent advised that it had no option but to return the documents.

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