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Posted in DC-Pro on May 28, 2001 at 8:56:13 PM
UCP 500 Article 24 says "non-negotiable sea waybill", then it is giving excessive details, if you agree that all sea waybills must be non-negotiable. In fact this is the law, according to the Carriage of Goods by Sea Act 1992 of U.K.
I understand that when ICC drafts the UCP 500, there is no response from ...

Posted in DC-Pro on May 25, 2001 at 8:48:25 PM
"Non negotiatble" used in connection with sea waybill (SWB) here is misleading. Does it mean that "real" originals (not signed copies also deemed as originals by ICC Decision on Originals) are required or it simply describes the nature of all sea waybills being non-negotaible by definition?
The issuing bank should have used more precise or accurate wording in its LC. Any confusion should be interpreted against the issuing bank, as evidenced in many court cases on LC disputes.
If the issuing bank actually means that the sea waybills are ...

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