An Example

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You would not find it in the Megaversal Tourist Guide (except perhaps under the heading of 'Avoid like the plague') nor would you see it advertised as 'Ideal for Weekend Breaks - fun and frolic for all the family!'  The explanation for this negative thinking is simple.  Planet Zong was utterly, totally and completely unpopular - with just about everybody.

            Why this should be so is slightly more complicated but we will get to grips with explanations soon enough.

 

            Naturally, as the place were so poorly regarded you would probably say to yourself "Well, I'll not bother to go there then."  But that might not be enough to save you because, and here's an odd thing, Planet Zong could always come to you. 

 

            Yes, it moved!

 

            In fact it parped and blarped its way crazily around the galaxy like a giant punctured balloon and, what's more, it left a trail of reeking gas clouds wherever it went.  Not surprisingly the inhabitants of other planets were not at all impressed. They rushed to shut themselves away and held their noses whenever Zong spiralled past. 

            You could always tell when it was coming by the loud and unpleasant raspberry blowing noises that it made.  And there was definitely no mistaking when it had been because of the indescribably nasty smell that it left behind. 

 

            Throughout the Megaverse and into the dark regions beyond, this smell was known as ZongPong.  Thick green clouds of it would hang around for days and ruin everything that had been carelessly left outside such as the washing or the cat.  And woe betide you if you were daft enough to get caught by the ZongPong while sun bathing!  Your skin would stink like rotten eggs and mouldy school cabbage for weeks. 

 

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We, as the issuing bank, requested the below document, under field 46A. “Insurance policy/certificate for 10.00 percent above CIF value payable to the order of Sampath bank PLC, covering institute cargo clauses (a), institute war clauses (cargo), institute strike clauses (cargo), transshipment risks marked premium paid claims payable in Colombo irrespective of percentage.” Insurance certificate is presented containing below wording on the face side of the document. “The settlement of loss and damage will be effected, unless otherwise provided, through the intermediary of Marsh SA/NV to whom all documents are to be forwarded for this purpose, and will collect the indemnity under deduction of a commission of one percent” Also, it indicates the LC conditions as a mirror image as follows under the heading of "letter of credit conditions" whereas insurance conditions are incorporated separately in the certificate: "covering institute cargo clauses (A), institute war clauses (cargo), institute strike clauses (cargo), transshipment risks marked premium paid claims payable in Colombo irrespective of percentage" Having considered the above clauses, we have quoted below discrepancies. 1) Insurance policy indicates a deductible of 1 pct instead of irrespective of percentage. 2) Insurance not marked premium paid Beneficiary’s bank disagrees with our discrepancy and raised below argument: “Insurance policy/certificate does not indicate a deductible of 1 pct irrespective of percentage on the face of the document and banks will not examine terms and condition in insurance document as per ISBP paragraph K22 and marked as premium paid under the LC conditions. Considering above, may we have your opinion on the discrepancy quoted by us and the counter argument raised by the beneficiary’s bank.