j.The First Beneficiary may request that payment or negotiation be effected to the Second Beneficiary(ies) at the place to which the Credit has been transferred up to and including the expiry date of the Credit, unless the original Credit expressly states that it may not be made available for payment or negotiation at a place other than that stipulated in the Credit. This is without prejudice to the First Beneficiary's right to substitute subsequently his own invoice(s) (and Draft(s)) for those of the Second Beneficiary(ies) and to claim any difference due to him.
104UCP 600 – Overview of Article 39UCP 600 Article 39Assignment of ProceedsNo change from UCP 500UCP 500 Article 49The fact that a Credit is not stated to be transferable shall not affect the Beneficiary's right to assign any proceeds to which he may be, or may become, entitled under such Credit, in accordance with the provisions of the applicable law. This Article relates only to the assignment of proceeds and not to the assignment of the right to perform under the Credit itself.
105Group WorkWe have studied Articles 28 through 39 of UCP 600. In your Groups discuss the last sessionWhat did you understand?What was not clear or requires further clarification?Any other questions relating to the subjects covered by Articles 28-39?
- Fall '16
- Dr Ajape
- Bill of lading, UCP, Nominated Bank