Latest TABs Address Confirmation, Procedure for Payment under UCP600
In the latest rollout of its Technical Advisory Briefings (TABs), the ICC Banking Commission has issued TAB No. 13, “Confirmation
When one LC specialist encountered delay after sending drafts and shipping documents to Mexico, the resounding suggestion from industry peers was to avoid sending drafts to Mexico.
In the situation cited, drafts and shipping documents sent to Mexico elicited the following response from the commercial courier:
“Mexico: Negotiable documents over USD $10,000 must be declared through Value declaration form, otherwise, it can be confiscated by Mexican customs authorities and keep the packages until the fine is paid by consignee. Customer must state complete description of contents on AWB, the draft or invoice amount so [Courier] can complete and submit Declaration of Internment or Extraction of Quantities in cash and/or Documents for Charging. Max qty on Documents (DOX)- NO PIECE LIMIT. Max weight: (DOX) weight limitations are 50 kgs per shipment.”
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