THE ABSENCE OF AN LC NUMBER OR MISTYPING THAT NUMBER ON A DOCUMENT DOES NOT CONSTITUTE A REASON FOR REFUSAL QUESTION Top urgent Mr. Old Man, Bank S in UAE has stopped our payment by pointing out a single discrepancy that charter party bill of lading evidences LC issue date 24.6.24 instead of 21.6.14. However, LC not demands LC number or issue date nowhere in 46a or 47a. Moreover, Field 47A of LC says “obvious typography, spelling errors are … Read More
WHY SHOULD AN ISSUING BANK NOT REQUIRE A SIGHT DRAFT TO BE DRAWN ON THE REIMBURSING BANK? QUESTION Dear Mr. Old Man, I hope this email finds you well. I came across URR 725 while studying for CDCS and found some points unclear for me. Would you please kindly share your thoughts about the following questions? Question 1: Articles 6e-iii and 9c-iii: “An issuing bank should not require a sight draft to be drawn on the reimbursing bank”. According … Read More
WHERE MT 700 DOES NOT CONTAIN FIELD 43P QUESTION Dear Mr. Old Man, We received a SWIFT MT 700 which does not contain Field 43P (Partial shipments). I want to know whether partial shipments are allowed or not allowed. Thank you for your clarification. Best regards, PTT —- ANSWER Hi, Field 43P (partial shipments) specifies whether or not partial shipments are allowed under the LC. This field is … Read More
QUY ĐỊNH VỀ NGHIỆP VỤ THƯ TÍN DỤNG VÀ CÁC HOẠT ĐỘNG KINH DOANH KHÁC LIÊN QUAN ĐẾN THƯ TÍN DỤNG NGÂN HÀNG NHÀ NƯỚC VIỆT NAM ——- CỘNG HÒA XÃ HỘI CHỦ NGHĨA VIỆT NAM Độc lập – Tự do – Hạnh phúc ————— Số: 21/2024/TT-NHNN Hà Nội, ngày 28 tháng 6 năm 2024 THÔNG TƯ QUY ĐỊNH VỀ NGHIỆP VỤ THƯ TÍN DỤNG VÀ CÁC HOẠT ĐỘNG KINH DOANH KHÁC LIÊN QUAN ĐẾN THƯ TÍN DỤNG Căn cứ Bộ Luật … Read More
CẦU NGUYỆN CHÚA BAN CHO MỘT CHIẾC XE ĐẠP Trang web bikeradar chọn lựa ra 50 câu nói truyền cảm hứng cho những người mê xe đạp, trong đó có câu nói của Emo Philips, diễn viên hài nổi tiếng người Mỹ: “Khi tôi còn là một đứa trẻ, tôi thường cầu nguyện mỗi đêm mong Chúa ban cho một chiếc xe đạp mới. Sau đó, tôi nhận ra … Read More
Direct presentation of documents to an Issuing Bank under a documentary credit subject to UCP 600 ICC Banking Commission Technical Advisory Briefing No. 9 Subject: Direct presentation of documents to an Issuing Bank under a documentary credit subject to UCP 600 20 March 2024 ISSUE When a documentary credit stipulates a nominated bank (which may also be a confirming bank), it is usually expected that presentation of documents will be made to the stated nominated bank. … Read More
Handling of Certificates under Documentary Credits subject to the UCP 600 ICC Banking Commission Technical Advisory Briefing No. 8 Subject: Handling of Certificates under Documentary Credits subject to the UCP 600 28 November 2023 ISSUE Although not a major issue in respect of the preparation and subsequent submission of documents under documentary credits, it is evident, nevertheless, that a lack of general awareness exists in the market for the handling of … Read More
Title of Invoice ICC Banking Commission Technical Advisory Briefing No. 7 Subject: Title of Invoice 6 July 2023 ISSUE It has recently been noted that frequent observations have been made by practitioners, and on social media, as to the types of invoice that are, or are not, acceptable for presentation under a documentary credit. Unfortunately, a number of misinterpretations have been observed. INTRODUCTION … Read More
ICC Guidance Papers ICC Banking Commission Technical Advisory Briefing No. 6 Subject: ICC Guidance Papers 28 February 2023 ISSUE On occasion, the ICC Banking Commission releases Guidance Papers on subjects considered to be of key importance to practitioners. Whilst these have proven to be of great benefit, they are sometimes overlooked or are no longer easily accessible. INTRODUCTION With this in mind, a … Read More
Modifications and Exclusions under Documentary Credits subject to UCP 600 ICC Banking Commission Technical Advisory Briefing No. 5 Subject: Modifications and Exclusions under Documentary Credits subject to UCP 600 7 December 2022 ISSUE It is a fact that a number of documentary credits are issued with a modification or exclusion of one or more of the UCP 600 articles and/or sub-articles. Whilst this is permitted by the content of article … Read More