Hi guys, basically I have to answer this problem question, but there is one thing that it is not clear to me and it bothers me a lot.
To sum up, the Ben presented the docs to the CB, which rejected the documents stating that the presentation did not comply on several grounds, which are obviously listed in the problem question. However, it still pays under reserve and forwards the docs to the IB.
THE QUESTIONS IS: Does a CB paying under reserve under UCP 600 still have to comply with art 16(C)(iii)? Because if this is the case, it is clear to me that the CB did not in this case complied with it as they did not give any detail about what they want to do with the documents.
Do you agree
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UCP 600 watch
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Last edited by Aletheia1995; 4 weeks ago at 23:52.
I don't know anything about UCP 600 but I found this online:
Answer to your question appears to by 'yes', they should give a notice under art 16(c)(iii)(b) and by failing to do so they are estopped from denying that the documents are conforming.Last edited by Forum User; 4 weeks ago at 15:07.