identification of carriers and agents in stipulated transport documents 64 See

Identification of carriers and agents in stipulated

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identification of carriers and agents in stipulated transport documents. 64 See generally Agasha Mugasha, above n 2. 65See ISBP for the Examination of Documents under Documentary Credits, for UCP 500, (ICC Services Publications Department, France, 2003), ICC Publication 645. 66 Homburg Houtimport BV v Agrosin Private Ltd., The Starsin [2003] 2 W.L.R 711 [H.L.]. 67 Ibid, 749. eLaw Journal: Murdoch University Electronic Journal of Law (2011) 18(2) 14
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T Rodrigo UCP 500 TO 600: A Forward Movement 5.2 Transport Documents Covering at Least Two Different Modes of Transport The transportation of goods in international sale of goods contracts has, invariably, an international character. The parties may agree in their sales contract whether the transportation is to be executed by sea, land, air or by a combination of these modes of transportation. If a combination of these modes of transport is to be employed, it is considered "multimodal or combined transport" and the beneficiary of the credit is required to present to the bank, documents indicating the adopted mode of transportation. The provisions applicable for the presentation of such documents in the UCP 600 differ from its predecessor, UCP 500. The new Articles in UCP 600 relating to transport documents can be looked at in some detail, taking account more specifically of their increased use and significance in international trade. Whereas the UCP 500 in setting out provisions relating to transport documents started with marine bills of lading and the standard against which the banks would examine them, the UCP 600 starts with an entirely new concept titled 'transport documents covering at least two different modes of transport' in Article 19. The UCP 600 Drafting Group has explained the rationale for this structural change: 'Because transport by more than one mode of transport is the more common form in which goods are transported from seller to buyer, the Drafting Group placed this article as the first of the transport document articles.' 68 It is commendable to note that the ICC has realized the increasing recognition of multimodal transport documents in international trade. By virtue of this development, the requirements to be satisfied for tender of transport documents are now set out at Article 19, which is based on Article 20 with appropriate amendments. It is argued that Article 19 (in part) now gives a description of multimodal transport shipments. Unlike Article 26(a) of the UCP 500, the credits now need not call for a transport document to cover different modes of transport. This new provision is another instance where UCP 600 has followed the recommendations set by ICC Banking Commission which provided that: 'In all places where the term "multimodal transport document" is used within this document it also includes the term "combined transport document".' 69 The failure of the UCP 500 to use "multimodal transport document" instead of "combined transport document" may have caused confusion in the document examination process. To avoid any confusion, UCP 600 now uses the term "Transport Document covering at least two
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  • Fall '17
  • Jason Sit
  • Management, Trade finance, Letter of credit, UCP, T Rodrigo UCP

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