CASE 1:

1) Global Bank, Pune was incorrect in its interpretation of UCP 600 article 14. The credit clearly stated that it expired at the counters of the negotiating bank and that the documents were to be sent to the head office of Global Bank. The credit did not contain any indication that presentation at the counters of Global Bank’s head office was for administrative purposes only, and that effective presentation to the issuing bank would only be considered when the issuing bank had received the required documents.
UCP 600 article 6 states that presentation of documents must be made to issuing bank, or the confirming bank, if any, or any other nominated bank. The beneficiary presented the documents to the nominated negotiating bank and American Bank, New York presented the documents to the issuing bank as instructed.
Therefore, Global bank’s Pune Branch had a duty to determine the number of days remaining in the five banking day period after presentation of the documents at their head office in order to comply with article 14 of UCP 600.

2) Yes, the stand taken by American Bank, New York, as the negotiating bank, is correct.
As per the terms and conditions of the credit, they have negotiated the documents and forwarded the same to Global Bank’s head office. The American bank, New York should have received the notice of rejection of the documents within five banking days following the day of receipt of the documents at the counters of the head office of the Global bank.
The stand of The American Bank, New York is in concurrence with the article 14 of
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UCP 600.

Case 2
1) All the export documentary collection bills are governed by uniform rules for collection ICC (International chamber of commerce) publication No. 522. As per article
4a (1) of URC ICC 522, ‘All documents sent for