chapter 12 - articles from ucpdc 500
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Articles from UCPDC 500 – Uniform Customs and Practice for Documentary Credit 500 :
i) Article 26, combined transport documents is equivalent to a multimodal transport document,
ii) Article 37, description of goods on all documents except the invoice need only be in general terms not inconsistent with the credit.
iii) Article 26, Documents indicating transshipment may take place are acceptable even if the credit forbids transshipment, provided one document covers the whole journey
iv) Article 39, permits a 5% tolerance in amounts of goods, where goods are described by weight or volume.
v) Article 37, invoice must describe the goods in exactly the same way as the credit.
vi) Article 34, brokers cover notes not acceptable unless specifically authorized. Need to replace with policy or certificate. If not possible need to cable issuing bank for permission to pay.