TRANSFERRING BANK S LIABILITY UNDER TRANSFERRED LC QUERY Hi Mr. Old man, Could you give me a word of advice in this case? Details as follows: A transferable L/C is issued by bank A in favor of Ben 1 and Ben 1 transfer this LC to Ben 2 by MT720 through bank B (the bank is nominated as transfering bank in original LC). Ben 2 presents docs … Read More
TO ORDER BILL OF LADING AND ENDORSEMENT QUERY FROM POPBABI Sent To: Mr. Old Man B/L If L/C require B/L to order endorsed of Issuing Bank , it is synonymous with requirement on B/L to be endorsed by Shipper ? At that time, Consignee on B/L must be one of each cases: – to order – to order of shipper – blank – to bearer ——————————————– COMMENT … Read More
SURRENDERED BILL OF LADING QUERY FROM LINH DAN Thank you for answering my rather… annoying question the other day! I have another question. Recently, a customer submitted documents for payment by TTR, but the B/L was neither an original nor marked as a copy. On the B/L, there was also a note stating: “NO ORIGINAL B/L ISSUED. ORIGINAL B/L SURRENDERED IN SINGAPORE.” I don’t … Read More
ADDING CONFIRMATION TO AN LC ALREADY CONFIRMED QUESTION Hello, I need some help. Is it possible for another bank to add confirmation to an LC that has already been confirmed? In other words, can an LC have two open confirmations from two separate banks? Thank you in advance. Kind regards, Emsequeira ———– ANSWER Dear Emsequeira, In trade finance, almost anything is possible—provided the parties involved are willing … Read More