QUESTION Hi Mr. Old Man, We need your advice on the following issue: We issued an LC in favour of Beneficiary B. The applicant requests us to issue an amendment to change Beneficiary B into Beneficiary C. Can we issue such an amendment? Is the presentation made by the new beneficiary that complies with the LC deemed to be the …

QUESTION Dear Mr Old Man, Have a good day… Our customer asks us to add below special conditions in the credit: 1) Documents including BL dated prior to the issuance date of this credit are ACCEPTABLE. 2) Short form/black back BL NOT ACCEPTABLE. 3) Documents showing consignee as “TO ORDER’ and notify as “APPLICANT” are ACCEPTABLE. 4) Copy of documents …

QUESTION Please help me understand the reason for existence of Art.30 c of UCP 600. Is it applicable only when: 1. Credit prohibits partial shipment? 2. Quantity is stated in the credit and that quantity is shipped in full even when stated in quantities like Metric Tons etc? 3. Unit price if stated in the credit is unaltered in the …

Vì sao đạp xe đạp lại khiến bạn vui? Bạn có nghiện đạp xe đạp? Sống để đạp xe hay đạp xe để sống? Bạn có thể sống và đạp xe nếu bạn thích, nhưng các nghiên cứu cho thấy bạn có thể đạp xe đạp nếu bạn muốn sống lâu hơn. ◙ Phải thú nhận một điều là mình …

QUESTION Dear Mr. Old Man, I have one question and need your answer please. There are situations where Freight Forwarder Bill of Lading is required instead of Ocean Bill of Lading. Will appreciate if you could mention these situations. Awaiting your answer. Thanks & Regards, Ziyad —– ANSWER Hi, Regarding Freight Forwarder’s Bill of Lading, I would like to note …

QUESTION Dear Mr. Old Man, May I ask a few questions. 1) Why do issuing banks allow TT reimbursement? because I know China banks do not. 2) Where TT reimbursement is allowed and a reimbursing bank is nominated in LC, I understand it’s not common for the nominated bank to be informed upon LC issuance, am I right? In any …

QUESTION Credit stated that the “Insurance Policy endorsed in blank, for full CIF value plus at least 10% stipulating Claims payable at destination covering ……” . Note : Port of discharge : X port, India. My questions: 1) Does it mean that Insurance documents need to state “with claims payable at destination…….” ? 2) How about If the insurance documents …

QUESTION Dear Mr. Old Man, I have a case that needs your professional advice: LC required, among other documents, Commercial Invoice in 4 copies. The presenter made presentation with the covering schedule indicating 4 copies of Commercial Invoice presented. However, when checking the documents the issuing bank found only 3 copies presented and raised the discrepancy “3 copies of invoice …

QUESTION I have come accross this statement. “Under UCP600, the DPU remains undefined and still a bit of a mystery as to whether/how its incurrence may/must be evidenced.” Could you please comment further? Best regards, G. —- ANSWER Hi, You may have learnt about Banco Santander case in connection with discounting one’s own deferred payment undertaking (DPU). The main details …

Đạp xe đạp có gì hay mà sao nhiều người nghiện đến nổi sáng nào cũng dậy sớm từ 4 giờ để chuẩn bị lên đường bất kể hôm đó trời mưa lâm thâm và trở lạnh, bất kể vợ cằn nhằn can ngăn. Nhiều tay rủ nhau chạy cent tới 160 km, thậm chí còn làm cú đúp 320 …