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ICC releases its decision on a revision of UCP 600

15/06/2017 At the ICC Banking Commission meeting held in Jakarta in Aril 2017, it was decided that there was no current justification for a revision of the UCP 600. The ICC has now issued a paper outlining the rationale for that decision. A copy can be obtained from the link below.

ICC Decision - UCP 600 Revision.pdf

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Latest Question

The document set presented under the L/C shows the following: The packing List indicates 10 containers. For each container, the net weight (NW) is stated as 19,800 kgs/container, while the gross weight (GW) is stated as 19,100 kgs/container (that is, the GW of each container is less than the NW). However, the total NW is shown as 198.00 metric tons, and the total GW is shown as 199.1 metric tons (in two places). The commodity is Linear Alkyl Benzene. In addition, the bill of lading contains a column that is not clearly identified as NW, GW, or any other category, but it does list each container with a corresponding figure of 19,910 kgs/container. Furthermore, on the upper right-hand side of the bill of lading, under the “Weight” column, it states 199,100.00 kgs (that is, it also does not clearly specify whether this refers to NW or GW, but only states “Weight”). Our questions are whether the issuing bank can refuse to pay with the following discrepancies: 1. The gross weight of each container stated in the packing list is inconsistent with that shown on the bill of lading. 2. The gross weight of each container stated in the packing list is lower than the net weight of each container, which is unreasonable.