QUESTIONS RELATED TO SBLC QUESTION Dear Duc Nguyen Huu Sincere greetings! How are you Bank Master? I encountered a problem in my work. My buyer has agreed to the transaction, but the seller first needs the buyer to provide SBLC, because the buyer requires an SGS report from the seller. This report requires a payment of US$10,000. Although the amount is small, the seller believes that … Read More
CAN A USANCE LC BE ISSUED AVAILABLE WITH ANY BANK ? QUESTION Chào Mr. Old Man, Em có thắc mắc về LC rất mong Mr. Old Man giải đáp. Ngân hàng em phát hành LC trả chậm thường quy định ở trường 31D và trường 41D như sau: 31D: Date and Place of Expiry: … Issuing Bank 41D: Available with ISSUING BANK by acceptance hoặc by deferred payment Em thắc mắc … Read More
LATE PRESENTATION OR NOT? (updated) QUESTION Dear Nguyen, I’m not sure whether you have had similar experience below: There was a set of docs which were available at our counter. We thought it O.K. and send it to the issuing bank. But we received the issuing bank’s refusal advice citing the discrepancy “late presentation”. The fact was the beneficiary made presentation at our counter on … Read More
WHETHER THE ADVISING BANK CAN ADVISE THE LC DIRECTLY TO THE BENEFICIARY BYPASSING THE 2ND ADVISING BANK QUESTION Dear Mr. Old Man We have received and LC from the Issuing bank. There is also a 2nd advising bank given in the LC. The beneficiary is our client as well. If the beneficiary is ok, can we advise the LC directly to them or should we necessarily follow the route of the 2nd advising bank to advise the … Read More
CHIẾT KHẤU HAY THƯƠNG LƯỢNG THANH TOÁN? Ngày 28/06/2024 Ngân hàng Nhà nước ban hành Thông tư 21/2024/TT-NHNH (Thông tư 21) quy định về nghiệp vụ thư tín dụng và các hoạt động kinh doanh khác liên quan đến thư tín dụng, theo đó cụm từ “thương lượng thanh toán” được sử dụng để nói đến việc ngân hàng thương lượng mua có kỳ hạn hoặc mua … Read More
ONE OR TWO SETS OF DOCUMENTS? QUESTION Dear Old Man, We have met this case, please give us your opinion. Thank you so much. Quote + L/C issued by Bank ABC Hongkong on 21 Aug 20XX, stipulated as follows: Field 45A: Description of goods: Frozen seafoods with purchase order No. 56 Field 46A: Documents required: 1/ Commercial Invoice must be signed by the beneficiary in one … Read More
ISSUING OF LETTER OF INDEMNITY WHEN THE APPLICANT HAS LOST FULL SET OF ENDORSED BILLS OF LADING QUESTION Chào anh Đức. Chi nhánh em đang có một vấn đề cần nhờ anh tư vấn. Anh vui lòng giúp em với nhé. Chi nhánh em đã ký hậu B/L và giao toàn bộ chứng từ trả chậm cho khách hàng nhưng trên đường về khách hàng đã đánh rơi mất, sau khi đã tìm đủ mọi cách như … Read More
WHEN IS AN AMENDMENT DEEMED ACCEPTED BY THE BENEFICIARY? KHI NÀO SỬA ĐỔI ĐƯỢC XEM ĐÃ CHẤP NHẬN BỞI NGƯỜI THỤ HƯỞNG? QUESTION Kính gửi: Mr. Old Man, Em cảm ơn anh đã đọc email của em. Em gặp trường hợp như sau: LC xuất của em có 1 tu chỉnh nhưng em không đồng ý tu chỉnh đó do không đáp ứng được nội dung tu chỉnh. … Read More
NEXT TIME DON’T BOMBARD MR. OLD MAN WITH TOO MANY QUESTIONS AT ONCE QUESTION Hi Mr. Old Man, It’s me again. Sorry for reaching out over the weekend. I have some more complex questions this time, so please feel free to respond whenever it’s convenient for you. When issuing a usance LC, does the issuer need to maintain 100% of the purchase value in their bank account for the entire duration of the … Read More
HOW LONG DOES THE SECOND BENEFICIARY USUALLY WAIT TO RECEIVE PAYMENT? QUESTION Hi Mr. Old Man, Thank you for the prompt reply. Based on your experience, how long does the second beneficiary usually have to wait to get the money after the first beneficiary has been paid? Thank you. Genevieve —— ANSWER Hi, How long the second beneficiary usually waits to receive payment depends upon whether the transferring bank is the second the … Read More