CORRECTION AND ALTERATION

QUESTION

L/C requires:

Certificate of origin, issued by the Chamber of Commerce in english showing Italy/Spain as the Country of origin, giving name and address of the manufacturer, duly legalised by Oman Embassy/Consulate or in its absence of Oman Embassy/Consulate, legalisation by AGCC/Arab Embassy/Consulate is acceptable.

On presentation the beneficiarys bank finds that some data in this Certificate differ from Bill of Lading, Invoice and Packing List. Following the ISBP 745 will the correction approved by the Chamber of Commerce only, suffice to make the certificate acceptable?

Comments appreciated
Ciao
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ANSWER

Hi,

I’m afraid that corrections approved/authenticated by the Chamber of Commerce alone in this described case will not suffice to make the C/O acceptable. What I understand from paragraph A7 (b) (i) and (ii) ISBP 745 is that any correction of data in this case is to be authenticated by both the issuer (i.e., the Chamber of Commerce) and the entity that legalized the C/O (i.e., Oman Embassy/Consulate or GCC/Arab Embassy/Consulate where appropriate).

Please refer to paragraph A7 (b) (i) and (ii) ISBP 745, which says:

( i) Any correction of data in a document, other than in a document issued by the beneficiary, is to appear to have been authenticated by the issuer or an entity acting as agent, proxy or for [or on behalf of] the issuer. Such authentication is to indicate the name of the entity authenticating the correction either by use of a stamp incorporating its name, or by the addition of the name of the authenticating entity accompanied by its signature or initials. In the case of authentication by an agent or proxy, the capacity of acting as agent or proxy for [or on behalf of] the issuer is to be stated.
(ii) When A DOCUMENT OTHER THAN ONE ISSUED BY THE BENEFICIARY has been legalized, visaed, certified, etc., any correction of data is, IN ADDITION TO THE REQUIREMENTS OF PARAGRAPH A7) (b) (i), to be authenticated by at least one of the entities that legalized, visaed or certified, etc., the document. Such authentication is to indicate the name of the entity authenticating the correction either by use of a stamp incorporating its name, or by the addition of the name of the authenticating entity accompanied by its signature or initials.

Ciao,
Mr. Old Man