IS PUERTO RICO PART OF THE UNITED STATES? QUERY LC requires the country of origin to be indicated on documents as USA/Singapore, whereas presented documents show the country of origin as USA and Puerto Rico. Is it accepatble? —————— ANSWER Hi, Interesting question, indeed! It seems to be a discrepancy at first sight. But, in fact, it is acceptable, at least in my own opinion. As document checkers … Read More
DOCUMENTS SENT ON COLLECTION BASIS QUESTION Dear Mr. Old Man, I got your email ID from internet. We have made the shipment; based on Irrevocable Sight L/C. And prepared the documents according to the L/C terms and submitted in our bank. Our correspondent bank couriered the documents to consignee’s bank on collection basis. Today is the 6th day, since the documents have already reached the … Read More
NOTING AND PROTESTING QUESTION How are you doing? I currently face with an issue that I honestly need to seek for your assist in clarification. We are a collecting bank of documentary collection against acceptance. On maturity date of the DA, the drawee is unable to pay the bill due to bankruptcy. Meanwhile, we have received message from remitting bank requested to protest. … Read More
URDG 758 – ARTICLE 7: NON-DOCUMENTARY CONDITIONS QUESTION Kính chào anh! Anh có khoẻ không ? Hôm nay em lại cầu cứu anh vấn đề này. Sáng mai em có buổi trình bày về URDG 758, em đã đọc kỹ URDG và đã đọc bài viết của anh về URDG 758 nhưng có điểm này em vẫn chưa hiểu rõ.Art 7 có quy định:’If the guarantee does … Read More
AN EXAMPLE TO ILLUSTRATE SUB-ARTICLE 30 (C) – TOLERANCE QUESTION Hi, I find it hard to understand Article 30 (c) of UCP 600, which states that: Even when partial shipments are not allowed, a tolerance not to exceed 5% less than the amount of the credit is allowed, provided that the quantity of the goods, if stated in the credit, is shipped in full and a unit price, if … Read More
WHETHER A CONGENBILL IS A CHARTER PARTY BILL OF LADING QUERY FROM LEUNG, KS Would you please comment on the following: quote The Issuing Bank refuse to honour the bill due to following discrepancies:1. Charter Party B/L presented Please be advised that the word ‘Charter Party’ shown on back page of B/L under condition of carriage.According to UCP600 Article 20 a)v) contain terms and conditions of carriage will not be … Read More
UCP 600 ARTICLES 30 AND 31 QUERY FROM DIAMOND HK Điều 30,31 trong UCP Em là sinh viên năm 3 kinh tế,em đang nghiên cứu về UCP và có mấy phần khó hiểu ở điều 30,31 xin được hỏi anh: -Có phải trong thư L/C ở những chổ ghi số tiền hoặc hàng hóa có chữ about,approximately thì dung sai là 10%? -Hàng hóa tính bằng … Read More