Article-17-UCP-600, Original Documents and Copies

The subject of differentiation between originals and copies document has been one of major problem for many years. This is especially today, with advancements in technology making it very difficult to determine the originality or otherwise of a document. An overriding consideration is for each issuing bank and applicant to determine the relevance of an original document being presented and whether one is required in all cases, ie in the example of a packing list, weight list, etc. 

A bank deals with documents and not with the goods, Article 17 of UCP 600 provides basic details to identification and requirement of an original and copies documents.

Article-17-UCP-600, Original Documents and Copies

a. At least one original of each document stipulated in the credit must be presented.

If a credit stipulates a document without providing brief details then at least one original of each document must be presented.

Example: Credit requires – “1- Commercial Invoice 2- Bill of Exchange 3- Certificate of Origin” without stipulating that how many copies or original need to be presented then at least one of the original for each above stated documents must be presented.

b. A bank shall treat as an original any document bearing an apparently original signature, mark, stamp, or label of the issuer of the document, unless the document itself indicates that it is not an original.

A document examiner will treat a document original if it contains an original signature, mark, rubber stamp or any label of the issuer of the document until a document itself indicates or bear any clause like “this is a copy or copy of the documents”.

1.Pictorial Example of an Original Doc: below certificate of origin bears an original stamp and signature and document itself indicates that it is an original documents.

2.Pictorial example of a photo copy or copy doc: We can refer the same image again wherein documents itself bears a clause that it is a copy of the documents:

c. Unless a document indicates otherwise, a bank will also accept a document as original if it:

i. Appears to be written, typed, perforated or stamped by the document issuer's hand; or ii. Appears to be on the document issuer's original stationery; or iii. States that it is original, unless the statement appears not to apply to the document presented.

Same as per above pictorial example no. 2 for sub-article 17(b), until a documents itself gives an indication of being a “copy” a bank will treat the document as original: 

If it is written, typed, perforated or stamped by the issuer Or if it is issued on the original letter head of the issuer Or if document itself bears word like “original or similar effect” as given in example no. 1 for sub article 17-(b).

d. If a credit requires presentation of copies of documents, presentation of either originals or copies is permitted.

If a credit calls for presentation of copies of documents specifically, then either original or copies are acceptable. However, if an original documents are being called then the original must be presented.

e. If a credit requires presentation of multiple documents by using terms such as "in duplicate", "in two fold" or "in two copies", this will be satisfied by the presentation of at least one original and the remaining number in copies, except when the document itself indicates otherwise.

If a credit requires presentation of multiple documents by using terms such as “in duplicate”, “in two fold” or “in two copies”, then there must be a presentation of at least one original and the remaining number can be in in copies, except when the document itself indicates otherwise.

Example: If a credit requires two originals of an insurance policy, and to avoid any confusion, a credit should require to mention specifically that the presentation of the document in ‘two originals’ instead of an ‘original and duplicate’ or ‘in duplicate’.

There is no requirement for an insurance policy to indicate the number of originals that have been issued. However, if it does, that number must be presented. In absent of any indication, number of originals presented will be considered as the full set.

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Chandan Kumar Yadav
My name is Chandan Kumar Yadav CDCS, CSDG, CITF, PGDIBO,AML-KYC, CCFE, MLIBF, CSF, 6SIGMA a trade finance professional with an experience of 11 years whereas worked with several stages of letter of credit, bank guarantee and on other payments methods of trade transactions such as documentary collection, open accounts, SBLC etc., I have a fair understanding of Trade Based Money Laundering as well, Blogging related to Trade Finance is my passion and I want to share which I know and learn from others, I have worked with Wells Fargo, Yes Bank Limited and Bank of America, India which helped me to gain knowledge, view of Trade Finance and importance of International Trade in world's economy. Trade Finance is thumping product, everyday we are learning something new so in order to keep learning I started this as one of the platform. . Let's Learn Together

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