Consulta planteada al Grupo de Expertos del Comité Español de la Cámara de Comercio Internacional
¿Cuál sería el riesgo que asume la Entidad bancaria en una carta de crédito revolving no acumulativa emitida por 5 MM € y que contempla un máximo de 10 utilizaciones en fechas concretas mensuales?
Toda vez que un crédito revolving es aquel que se renueva tras su utilización, si cualquiera de ellas resultara impagada al banco emisor, esto provocaría la revocación de la carta de crédito, como si fuera una sucesión de cartas de crédito; por ello el riesgo se limita a 5 MM. Sin embargo, hay quien interpreta que el riesgo que asume la Entidad financiera es el de la totalidad, en el ejemplo anterior 50 MM en lugar de 5 MM.
Texto del crédito:
QUOTE
DRAFT OF REVOLVING LETTER OF CREDIT
27: Sequence of total: __
40 A: Form of documentary Credit: IRREVOCABLE, REVOLVING NON-CUMULATIVE AND NON TRANSFERIBLE
20: Documentary Credit number: _______
31 C: Date of issue: _________
31 D: Date and place of expiry: 2013/06/30 – Spain
50: Applicant: xxxxxx
59: Beneficiary: xxxxxx
32 B: Currency Code, amount: xxxxxxxx EUR
39A: Percentage Credit Amount Tolerance: +/- 5%
41 A: Available with /by: Confirming Bank by payment
43 P: Partial shipment/deliveries: ALLOWED
43 T: Transhipment: NOT ALLOWED
44 A: Load. Board/Dispatch/Taking Charge: xxxx
44 B: For Transportation to: xxxxxxxxx
44 C: Latest date of shipment / delivery:
1. FIRST SHIPMENT: xxxx
2. SECOND SHIPMENT: xxxx.
3. THIRD SHIPMENT: xxxx.
4. FOURTH SHIPMENT: xxxx.
5. FIFTH SHIPMENT: xxxx.
6. SIXTH SHIPMENT: xxxx.
7. SEVENTH SHIPMENT: xxxx.
8. EIGHTH SHIPMENT: xxxx.
9. NINTH SHIPMENT: xxxx.
10. TENTH SHIPMENT: xxxx 5.
45 A: Descript. Of Goods/or Services: xxxxxxxxxxxx.
Delivery term: xxxxxxxxx
46 A: Documents required:
The Documents required for each shipment up to a total of 10 shipments of xxxxxxxxx
i. Commercial Invoice in 2 Originals issued by the Beneficiary
ii. Shipped on Board Bill of landing in 2/3 Originals issued or endorsed to the Order of the Applicant and marked Freight Prepaid.
iii. Insurance Certificate.
iv. Certificate of Origin
v. Packing List
47 A: Additional conditions:
1. All documents will be issued in English language except pre-printed forms.
2. All documents should bear our L/C ref………., however typing mistakes on our L/C ref shall not be considered as a discrepancy.
3. All documents must be dated. Documents dated prior to issuance date of this credit are not acceptable.
4. All the documents to be considered under art. 14-f of UCP 600 must show description of goods, be signed and stamped by the issuer.
5. Article 28-j of UCP 600 is not acceptable to this l/c.
6. This Documentary Credit is revolving in a non-cumulative way for the next shipment, upto a maximum total quantity of 60.000 tn and upto a total of 10 deliveries of xxx tons each, when:
(i) the previous shipment has been shipped; and
(ii) payment of such shipment has been effected because Issuing Bank determines that a complying presentation of documents under such shipment have been done,
making the documentary credit available for the amount of the next shipment.
For the purpose of identification, the shipments allowed are as per the following breakdown:
· FIRST SHIPMENT: XXX EUR before end of correspond to xxx tn
· SECOND SHIPMENT: XXX EUR before end of correspond to xxx tn
· THIRD SHIPMENT: XXX EUR before end of correspond to xxx tn
· FOURTH SHIPMENT: XXX EUR before end of correspond to xxx tn
· FIFTH SHIPMENT: XXX EUR before end of correspond to xxx tn
· SIXTH SHIPMENT: XXX EUR before end of correspond to xxx tn
· SEVENTH SHIPMENT: XXX EUR before end of correspond to xxx tn
· EIGHTH SHIPMENT: XXX EUR before end of correspond to xxx tn
· NINTH SHIPMENT: XXX EUR before end of correspond to xxx tn
· TENTH SHIPMENT: XXX EUR before end of correspond to xxx tn
71 B: CHARGES: ALL BANK CHARGES OTHER THAN ISSUING BANK’S CHARGES ARE FOR BENEFICIARY’S ACCOUNT.
48. PERIOD FOR PRESENTATION: 6 WORKING DAYS FROM SHIPMENT DATE BUT WITHIN CREDIT VALIDITY.
49. CONFIRMATION INSTRUCTIONS: confirm
57 A: ADVISE THROUGH’ BANK:
Análisis
La figura del Crédito Documentario Revolving como tal no está contemplada en las UCP 600 y por lo tanto no existe una regulación oficial. Se tratan de créditos que se interpretan por su propio texto y cada uno es distinto y específico.
En cuanto al riesgo que asume la Entidad es por el total del crédito más la tolerancia del 5%. Como el crédito cuenta con 10 utilizaciones, sería de 50 millones más la tolerancia, es decir 52.500.000,00.
Al igual que el resto de los créditos documentarios habituales, el importe de las utilizaciones parciales se descontarían del riesgo total, a medida que se fueran produciendo.
Respuesta
Por unanimidad el grupo considera que la figura del crédito documentario revolving no está contemplada en las UCP600 y que cada uno es distinto y específico.
El riesgo que la Entidad asume en un crédito revolving no acumulativo sería el del importe total añadido por las sucesivas rotaciones, más la tolerancia si existiese.
La respuesta a la consulta planteada refleja el punto de vista de los componentes del Grupo de Expertos del Comité Español de la Cámara de Comercio Internacional, no de la Comisión Bancaria de la CCI.
Fuente: ICC Spain
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