703.pdf - Mr Jordi Sellars Serra Vicesecretari Comit Espaol de la Cmara de Comercio Internacional Cambra de Comer de Barcelona Avda Diagonal 452 08006

703.pdf - Mr Jordi Sellars Serra Vicesecretari Comit Espaol...

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3 December 2009/TS/wj Document 470/1126rev Mr. Jordi Sellarés Serra Vicesecretari Comité Español de la Cámara de Comercio Internacional Cambra de Comerç de Barcelona Avda. Diagonal 452 - 08006 Barcelona Spain 3 December 2009 Subject : Document 470/TA.703rev (UCP 600) Dear Mr. Serra, We refer to our letter dated 10 August 2009 in respect of your query regarding UCP 600, under your reference case 163. Please find below the opinion of the Banking Commission. QUOTE ICC Spain received the following inquiry from a Spanish financing company who asked for the opinion of ICC Spain group of experts on documentary credits. Following a debate of the issues we seek the ICC Banking Commission’s opinion. A brief synopsis of the case is as follows: In the additional conditions of the documentary credit the following clause was included: “ALL DOCUMENTS MUST BE PRESENTED IN ENGLISH, IF ANY DOCUMENT PRESENTED IS NOT IN ENGLISH WE SHALL FORWARD THE PRESENTATION TO ISSUING BANK ON APPROVAL BASIS.” The inquiry stated that the seller presented the required documents, attaching a bill of exchange with the text pre-printed in Spanish and the data for the amount,
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