CAN AN SBLC BE AVAILABLE WITH A NOMINATED BANK OTHER THAN THE CONFIRMING BANK ? QUESTION Dear Mr. Old Man, My company, as applicant has request our bank to issue a SBLC and a international branch of the issuing bank confirmed such LC. The confirmation was needed because of the lower credit rating of the Brazilian entity. The beneficiary of the SBLC requested us to include its bank as advising bank and it was done … Read More
CORONAVIRUS & SỰ KIỆN BẤT KHẢ KHÁNG Picture obtained from South China Morning Post Tạp chí Trade Services Update đang diễn ra một cuộc tranh luận về sự kiện bất khả kháng liên quan đến sự bùng phát dịch viêm phổi gây ra bởi coronavirus ở Vũ Hán. Tình huống như sau: LC quy định thanh toán tại Ngân hàng được chỉ định (NHĐCĐ) và chứng từ … Read More
AI CÓ VỀ QUÊ HƯƠNG GÒ NỔI Ai có về quê hương Gò Nổi Miền đất mới giờ đã lên xanh (*) Chủ Nhật tuần trước đạp xe đạp check-in làng Đo Đo trong Mắt Biếc của nhà văn Nguyễn Nhật Ánh khi đi ngang qua cầu Câu Lâu nhìn thấy Gò Nổi ở giữa sông Thu Bồn, Mr. Old Man đã nghĩ tới Chủ Nhật kế … Read More
ICC HƯỚNG DẪN SỬ DỤNG HỐI PHIẾU TRONG GIAO DỊCH LC Hối phiếu trong giao dịch L/C đã và đang là vấn đề tranh luận không có hồi kết trên các diễn đàn của công đồng những người thực hành thanh toán quốc tế và các chuyên gia tài trợ thương mại rằng L/C có nên yêu cầu xuất trình hối phiếu hay không, ngân hàng/người mở L/C có thể từ … Read More
DRAWEE UNDER LC AVAILABLE BY ACCEPTANCE QUESTION Dear Mr. Old Man I need your kind advice on the below situation: An usance LC of 180 days has been issued by RBL Bank, India to Axis Bank, Dubai (direct RMA) Field 41 D: AXIS BANK, BY ACCEPTANCE Field 42 C: DRAFTS AT 180 DAYS FORM THE DATE OF SHIPMENT Field 42 A: DRAWEE: RBL BANK LTD, MUMBAI, … Read More
FREIGHT PREPAID VS FREIGHT PAYABLE AT BASEL QUESTION Dear Mr. Old Man, LC requires: Full set of original Bills of Lading made out to order of the issuing bank marked FREIGHT PREPAID… Presented Bill of Lading indicates “FREIGHT PREPAID” and also indicates “FREIGHT PAYABLE AT BASEL”. Can I raise the discrepancy “Bill of Lading shows conflicting information about freight , i.e., Bill of Lading indicates “FREIGHT PREPAID” … Read More
SHORT DRAWN AND SHORT SHIPMENT QUESTION Dear Mr. Old Man, I need your opinion on the following case: LC stated: + Quantity: 1000 MT (+/- 10%) + Unit price: USD 100 + Total amount: USD 100,000 (+/- 10%) + Packing: in 5 containers + Partial shipments allowed In May the beneficiary made the 1st presentation for USD 30,000 covering shipment of 300 MT packed in … Read More
MUST THE COURIER RECEIPT INDICATE CONTRACT NUMBER AND DATE ? QUESTION Dear Mr. Old Man, LC required: Field 46A (amongst other documents): Beneficiary’s certificate along with relevant Courier receipt certifying that one set of photocopied shipping documents plus 1/3 original bill of lading has been sent to the applicant within 5 days after shipment date. Field 47A: “All documents must show contract number and date”. All presented documents including the … Read More
COPIES OF DOCUMENTS NEED NOT BE SIGNED QUESTION Dear Mr. Old Man, Field 46A: Signed commercial invoice in 3 originals and 3 copies. Field 47A: All documents must be manually signed. I want to know whether copies of invoice must be signed manually. Thank you in advance for your advice. Best regards, T.H —- ANSWER Hi, My quick answer is NO. According to ISBP 745 A31 (b), … Read More
MUST THE ISSUING BANK REIMBURSE WHEN THE NOMINATED BANK PROVIDES THE MISSING DOCUMENT ? QUESTION Dear Mr. Old Man, LC issued by our bank required presentation of Inspection Certificate in 01 original and 02 copies. However, the nominated bank presented only 01 original and 01 copy. We raised the discrepancy “Inspection Certificate: 01 original and 01 copies presented instead of 01 original and 02 copies”. The nominated bank sent our bank another copy of … Read More