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Transport Documents TOC

This document provides an overview of transport documents in documentary credits. It discusses the key parties and lines of the documentary credit transaction process. It also examines the roles and functions of transport documents, covering common document types like bills of lading, air waybills, and rules governing their use under the UCP 600 and ISBP. Specific topics include rules around document content requirements, transport concepts, and the future of electronic transport documents.

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Jhoo Angel
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481 views

Transport Documents TOC

This document provides an overview of transport documents in documentary credits. It discusses the key parties and lines of the documentary credit transaction process. It also examines the roles and functions of transport documents, covering common document types like bills of lading, air waybills, and rules governing their use under the UCP 600 and ISBP. Specific topics include rules around document content requirements, transport concepts, and the future of electronic transport documents.

Uploaded by

Jhoo Angel
Copyright
© © All Rights Reserved
Available Formats
Download as PDF, TXT or read online on Scribd
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Preface

..................................................................................... ix

Chapter 1: Introduction................................................................ 1

Chapter 2: Documentary Credits -- A Brief Overview. .............. 3


2.1 Documentary Credit Rules ..............................................................3
2.2 Documentary Credit Definition.......................................................4
2.3 Documentary Credit Functions........................................................5
2.4 The Independence Principle.............................................................5
2.4.1. The Fraud Exception..................................................................... 7
2.5 The Parties to the Documentary Credit Transaction........................7
2.6 Standard for Examination of Documents........................................9
2.7 The Documentary Credit Lines......................................................12
2.7.1 Graphic Overview of the Documentary Credit Lines.................. 12
2.7.2 Line 1 – The Agreement between Buyer and Seller................... 12
2.7.3 Line 2 – The Parties..................................................................... 12
2.7.4 Line 3 – Issuing the Documentary Credit................................... 13
2.7.5 Line 4 – Presenting the Documents and Paying............................... 14
2.8 Documentary Credit Compliance...................................................14

Chapter 3: The Transport Documents- Functions and Role in


Documentary Credits................................................ 17
3.1 Functions in Documentary Credits................................................17
3.2 The Role of the Transport Documents for the Banks.....................18
3.2.1 Lien (Collateral).......................................................................... 18
3.2.2 Due Diligence.............................................................................. 19
3.3 The Preferred Transport Document................................................19
3.4 How Transport Documents are Perceived......................................20
3.5 The Future Handling of Transport Documents in Documentary
Credit Transactions.........................................................................23

Chapter 4: Transport Documents – Rules, Practice,


and Concepts. ............................................................ 27
4.1 General Rules and Practices...........................................................27
4.1.1 UCP 600 Article 14(j) -- Addresses and Contact Details............. 27
4.1.2 Transport Document Issued “to order” versus “straight”............ 30
4.1.3 UCP 600 Article 14(k) -- Shipper/Consignor of Goods............... 31
4.1.4 UCP 600 Article 14(l) -- Issuer of Transport Documents............ 31
4.1.5 UCP 600 Article 26 (“On Deck,” “Shipper’s Load and Count,”
“Said by Shipper to Contain” and Charges Additional to Freight)
and UCP 600 Article 27 (Clean Transport Document)................ 32
4.1.6 ISBP 745 Paragraph A19 “Shipping Documents,” Stale
Documents,” “Third Party Documents Acceptable,” “Third Party
Documents Not Acceptable,” “Exporting Country,” “Shipping
Company,” and “Documents Acceptable as Presented”.............. 37
4.1.7 ISBP 745 Paragraphs A32-A34 (Shipping Marks)...................... 41

v
Sindberg, Kim — UCP 600 Transport Documents (2nd Ed.)

4.1.8 Transhipment.............................................................................. 42
4.2 Specific Rules and Practices............................................................45
4.2.1 UCP 600 Article 19 (Transport Document Covering at Least
Two Different Modes of Transport) and ISBP 745 Paragraphs
D1-D32 ....................................................................................... 45
4.2.2 UCP 600 Article 20 (Bill of Lading) and ISBP 745 Paragraphs
E1-E28........................................................................................ 52
4.2.3 UCP 600 Article 21 (Non-Negotiable Sea Waybill) and ISBP 745
Paragraphs F1-F25 ..................................................................... 58
4.2.4 UCP 600 Article 22 (Charter Party Bill of Lading) and ISBP 745
Paragraphs G1-G27..................................................................... 63
4.2.5 UCP 600 Article 23 (Air Transport Document) and ISBP 745
Paragraphs H1-H27..................................................................... 71
4.2.6 UCP 600 Article 24 (Road, Rail or Inland Waterway Transport
Documents)................................................................................. 75
4.2.6.1 UCP 600 Article 24 (Road Transport Documents) and ISBP
745 paragraphs J1-J20......................................................... 76
4.2.6.2 UCP 600 Article 24 (Rail Transport Documents) and ISBP
745 paragraphs J1-J20......................................................... 81
4.2.6.3 UCP 600 Article 24 (Transport Documents for Inland
Waterway) and ISBP 745 Paragraphs J1-J20....................... 83
4.2.7 UCP 600 Article 25 (Courier Receipt, Post Receipt or
Certificate of Posting).................................................................. 86
4.3 Transport Concepts............................................................................87
4.3.1 Freight Forwarders...................................................................... 87
4.3.2 Different Names for Carriers....................................................... 97
4.3.3 Determining Date of Shipment................................................... 97
4.3.4 On Board Notations.................................................................... 99
4.3.5 Movements............................................................................... 112
4.3.6 When the Transport Articles are not Applicable....................... 116
4.3.7 Clauses in Bills of Lading Allowing for Release of Goods
without Requiring Presentation of the Original....................... 117
4.3.8 SWIFT Transportation Fields..................................................... 119
4.3.9 Trade Terms............................................................................... 122
4.3.10 Containers for Sea Transport.................................................... 125
4.4 Sample Transport Document with Comments.................................129

Chapter 5: Transport Requirements in Documentary Credits.137

Chapter 6: Electronic Transport Documents.......................... 141


6.1 Rules................................................................................................141
6.2 Initiatives and Solutions..................................................................141

Appendix A Another Look at “The Invisible Article”: 


Thoughts on UCP 600 Article 21.......................... 143

vi
Appendix B: Transport Document Samples................................ 149
Negotiable FIATA Multimodal Transport Bill of Lading.........................149
Non-Negotiable FIATA Multimodal Transport Waybill..........................153
Bill of Lading for Ocean Transport or Multimodal Transport
(SHIPPED) (Maersk Line)............................................................157
Bill of Lading for Ocean Transport or Multimodal Transport
(RECEIVED) (Maersk Line).........................................................158
CONGENBILL 2007 – Bill of Lading to be Used with Charter Parties
(BIMCO) – Including Conditions of Carriage..............................159
House Air Waybill..................................................................................161
International Consignment Note...........................................................162

vii

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