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    After 60: The West Sees It One Way, Asia Another

    Qua tuổi 60: Tây một kiểu, Ta một kiểu

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    Chờ nhau mấy triệu năm…

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    After 60: The West Sees It One Way, Asia Another

    Qua tuổi 60: Tây một kiểu, Ta một kiểu

    Nhớ Bãi đá Triệu năm

    Chờ nhau mấy triệu năm…

    Cà phê và Mưa…

  • Discovery on the cycling road

    Nhớ Bãi đá Triệu năm

    Chờ nhau mấy triệu năm…

    Nhớ hồ Hòa Trung

    Đèo Hải Vân có phải là đèo Mây!?

    App thời tiết cũng rất “thời tiết”

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  • 45 minutes ago Should the draft be drawn on the issuing bank or on the confirming bank?
  • 2 hours ago After 60: The West Sees It One Way, Asia Another
  • 17 hours ago Qua tuổi 60: Tây một kiểu, Ta một kiểu
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Should the draft be drawn on the issuing bank or on the confirming bank?

By Mr Old Man
45 minutes ago
in :  Mr Old Man, Payment, Q&A
0
4

Should the draft be drawn on the issuing bank or on the confirming bank? Intro Seventeen years ago, my website, www.mroldman.net, shared the following Q&A from the DCPro Discussion Forum. The discussion was about a rather interesting question: under a confirmed LC available by negotiation with the confirming bank, should the draft be drawn on the issuing bank or on …

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Double Confirmation: Possible, but Is It Practical?

By Mr Old Man
2 days ago
in :  Mr Old Man, Payment, Q&A
0
34

Intro Every now and then, Mr. Old Man receives a question that looks simple at first glance but becomes rather complicated once you bring UCP 600, two confirming banks, and two places of expiry into the picture. Here is a recent question from Firas about whether an LC can be structured with two confirming banks and two places of expiry, …

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Clarification on “On Board AWB” and “Inland Transit Limit”

By Mr Old Man
3 days ago
in :  Mr Old Man, Payment, Q&A
0
13

  Introduction Two seemingly simple questions can sometimes hide an important documentary point: what exactly does the wording of the credit or document require us to establish? In the first question, the issue is whether an “ON BOARD AWB” must evidence the actual flight date. In the second, it is whether an amount shown as an “Inland Transit Limit” can …

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Certificate of Analysis vs. Certificate of Quantity and Quality: Is It a Discrepancy?

By Mr Old Man
6 days ago
in :  Mr Old Man, Payment, Q&A
0
28

Introduction In documentary credit examination, a question may arise when the credit requires a specific type of certificate, but the presented document bears a different title. For example, the credit requires a “Certificate of Quantity and Quality”, while the presented document is titled “Certificate of Analysis”. At first sight, the two titles do not appear to be similar. Does the …

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“Survey Agent” vs. “Claim Settling Agent” — Is It a Discrepancy?

By Mr Old Man
2 weeks ago
in :  Mr Old Man, Payment, Q&A
0
29

  Introduction In documentary credit examination, a small difference in wording can sometimes make a significant difference. But does “survey agent” satisfy a credit requirement for a “claim settling agent”? Here is a question on this point. Question Dear Mr. Old Man, I have a question for you. The LC states: “Insurance policy should indicate claim settling agent in the …

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Transferable LC with an Invoice Required in the Applicant’s Name

By Mr Old Man
2 weeks ago
in :  Mr Old Man, Payment, Q&A
0
49

Introduction A question was raised about a transferable LC in which the original credit specifically requires the Commercial Invoice to be issued in the name of the Applicant. At first glance, this may appear to create a problem for the First Beneficiary’s right to substitute its own invoice under UCP 600 Article 38(h). However, Article 38(g) provides an important mechanism …

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On Board Notation: Does the Same Place of Receipt and Port of Loading Make a Difference?

By Mr Old Man
2 weeks ago
in :  Mr Old Man, Payment, Q&A
0
51

Intro A small detail, but an interesting one. A bill of lading shows the Place of Receipt and Port of Loading as the same place. At first glance, one might think there is no need to mention the port of loading in the on-board notation. But what if the B/L also indicates a means of pre-carriage? That seemingly minor detail …

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Can an LC Be Amended After Documents Have Been Presented?

By Mr Old Man
2 weeks ago
in :  Mr Old Man, Payment, Q&A
0
69

A question from Jawad Ahmed, Pakistan, raises two interesting issues in documentary credits: Can an LC requirement be deleted by amendment after documents have already been presented and a discrepancy has been raised? Can the requirement for a draft at sight in Field 42C be removed? Here is my answer. Question Dear Sir, Hope you are doing well. I wanted …

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Drafts Under a Letter of Credit Available by Negotiation

By Mr Old Man
3 weeks ago
in :  Mr Old Man, Payment, Q&A
0
61

Introduction When a letter of credit is available by negotiation and Field 42C identifies the Issuing Bank as the drawee, does the beneficiary necessarily have to present a draft? Or can the Issuing Bank reject the documents if no draft is presented? This question from Firas raises an interesting point about the role of drafts under documentary credits and, in …

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Latest Shipment Date, Shipment Date and Period for Presentation

By Mr Old Man
3 weeks ago
in :  Mr Old Man, Payment, Q&A
0
50

A question from Jawad Ahmed, Pakistan, regarding the relationship between the latest date of shipment, the actual shipment date and the period for presentation under an LC. Question Dear Sir, I hope you are doing well. I wanted to ask regarding the subject matter. Can you please clarify Field 44C, i.e. the latest date of shipment, and the shipped on …

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Should the draft be drawn on the issuing bank or on the confirming bank?

Mr Old Man
45 minutes ago

After 60: The West Sees It One Way, Asia Another

Mr Old Man
2 hours ago

Qua tuổi 60: Tây một kiểu, Ta một kiểu

Mr Old Man
17 hours ago

Double Confirmation: Possible, but Is It Practical?

Mr Old Man
2 days ago
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Should the draft be drawn on the issuing bank or on the confirming bank?

Mr Old Man
45 minutes ago

After 60: The West Sees It One Way, Asia Another

Mr Old Man
2 hours ago

Qua tuổi 60: Tây một kiểu, Ta một kiểu

Mr Old Man
17 hours ago

Double Confirmation: Possible, but Is It Practical?

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2 days ago

Anonymous: Hi, If a Telex Release or Express Release is presented instead of an original Bi...

Anonymous: Hi, And what about cases where the credit is confirmed and the bank commits to m...

Anonymous: Thank you for your reply. Yes, it was in the notify party details. It made me he...

Mr Old Man: I assume this email address appears in the notify party details. If the credit s...

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