Joker Clause?
Under normal circumstances a beneficiary should be able to collect all of the stipulated documents without the help of the applicant. This is how a reasonable and decent Letter of Credit works. But sometimes applicants include some clauses in the credits and manipulating letters of credit in a way that they require a document which can not be presented without the help of the applicant. In letter of credit terminology we called these clauses "Joker Clauses".
Joker Clauses can be seen either in Field 46-A Documents Required or
Under normal circumstances a beneficiary should be able to collect all of the stipulated documents without the help of the applicant. This is how a reasonable and decent Letter of Credit works. But sometimes applicants include some clauses in the credits and manipulating letters of credit in a way that they require a document which can not be presented without the help of the applicant. In letter of credit terminology we called these clauses "Joker Clauses".
Joker Clauses can be seen either in Field 46-A Documents Required or
Field 47-A Additional Conditions.
Some examples of "Joker clauses" which makes presentations dependent on applicants participation:
Example 1 : Certificate of acceptance signed by the authorized stuff of applicant
Example 2 : Certificate of acceptance issued by the applicant
Example 3 : Certificate of acceptance issued by the applicant' agent
Example 4 : Original beneficiary's invoice duly endorsed on reverse by two authorized official's of the applicant.
Some examples of "Joker clauses" which makes presentations dependent on applicants participation:
Example 1 : Certificate of acceptance signed by the authorized stuff of applicant
Example 2 : Certificate of acceptance issued by the applicant
Example 3 : Certificate of acceptance issued by the applicant' agent
Example 4 : Original beneficiary's invoice duly endorsed on reverse by two authorized official's of the applicant.
