• THE INTERNATIONAL COMMERCE & LAW REVIEW
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• v.51
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• pp.285-313
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• 2011

There can be analyzed severally on the acceptance conditions of freight forwarder's transport document under UCP. First, Bills of Lading issued by forwarding agents will be refused. This can be seen in the article 20 of 1933 Revision UCP(Brochure 82) and the article 20 of 1951 Revision UCP(Brochure 151). Second, Unless specifically authorized in the credit, Bills of Lading issued by forwarding agent will be rejected. It is prescribed in the front part (a) of article 17 of 1962 Revision UCP(Brochure 222) and the article 19 of 1974 Revision UCP(Publication No. 290). Third, Acceptance conditions are different according to the type of transport documents, that is either Bill of Lading or not. It is prescribed in the art 25 and article 26 of 1983 Revision UCP. Unless otherwise stipulated in the credit, transport document issued by a freight forwarder will be rejected unless it is the FIATA Combined Transport Bill of Lading approved by the International Chamber of Commerce or otherwise indicates that it is issued by a freight forwarder acting as a carrier or agent of a named carrier. On the other hand, unless otherwise stipulated in the credit, marine bill of lading issued by a freight forwarder will be rejected, unless it indicates that it is issued by such freight forwarder acting as a carrier, or as the agent of a named carrier. Fourth, transport documents issued by a freight forwarder will be accepted. This can be found in the article 30 of 1993 Revision UCP(ICC Publication No. 500) and the article 14 l of 2007 Revision UCP(ICC Publication No. 600). According to the former unless otherwise authorized in the Credit, transport document issued by a freight forwarder will only be accepted if it is appears on its face to indicate the name of the freight forwarder as a carrier or multimodal transport operator or its agent. The latter prescribed that a transport document will be accepted if it is issued by a freight forwarder by a agent of carrier or freight forwarder itself.

• THE INTERNATIONAL COMMERCE & LAW REVIEW
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• v.43
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• pp.117-142
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• 2009

The purpose of this paper is to examine the basic principles for the examination of documents in terms of the basic duty to examine the documents, the time allowed to the banks to examine the documents, linkage among the documents, the originality of documents and their issuers, and the rejection formula of documents. Further this author would look at the changes of particular transport document including bill of lading, charter-party bill of lading and so on. From the seller's perspective, the changes of the principles and individual documents under UCP600 are the most important in the sense that they affect the criteria against which the payment is made. The major changes include the omission of the phrase "with reasonable care", in terms of the basic examination principles, substitute the phrase "five banking days following the day of presentation" for the phrase "reasonable time, not to exceed seven banking days following the days of receipt of documents", introduce the new wording about the linkage between the documents tendered, and make clear the meaning of the originality of documents as well as the rejection formula. For transport documents, even though dealing with bill of lading, charter-party bill of lading, transport document covering at least two different modes of transport, freight-forwarder bill of lading and freight collect transport documents, this paper focuses on the "transhipment" of bill of lading and the definition of charter-party bill of lading. Thus, UCP has been changed several times to reflect the new banking customs and practice. It, however, would not answer every questions which users and banks will raise. These questions may be best answered in the particular underlying contract. The UCP are necessary but not a sufficient instrument for the smooth operation of an international trade transaction. The rules are now out: it remains to be seen what the players do with it.