When a Shipping Line Requests a General Average Deposit – What Documents Should the Bank Require for the Transfer? Intro In maritime transport, when a General Average (GA) situation occurs, the shipowner often requires cargo owners to contribute or advance a sum of money as security for their share of the loss. So, if a customer wishes to remit such a deposit through the bank, what documents must be collected to comply with foreign exchange regulations? The following question … Read More
Khi hãng tàu yêu cầu đặt cọc tổn thất chung – ngân hàng cần hồ sơ gì để chuyển tiền? Intro Trong vận tải biển, khi xảy ra “tổn thất chung” (General Average), chủ tàu thường yêu cầu các chủ hàng phải đóng góp hoặc tạm ứng một khoản tiền để bảo đảm phần trách nhiệm của mình. Vậy nếu khách hàng muốn chuyển khoản đặt cọc này qua ngân hàng, thì cần nộp những chứng từ gì để tuân … Read More
Sanctions vs. Honour: What If the LC Has No Sanctions Clause? Intro In today’s trade finance world, sanctions compliance has become a minefield. Banks may find themselves caught between UCP obligations on one side and sanctions laws on the other. A recently raised a thought-provoking question — what if the LC itself says nothing about sanctions, yet the documents reveal shipment from a sanctioned port or on a sanctioned vessel? Here’s … Read More
Khi người hưởng LC là công ty “chị em” ở Singapore: Làm thế nào để Bank V trở thành ngân hàng xuất trình? Intro: Trong hoạt động xuất nhập khẩu, việc các doanh nghiệp tái cấu trúc mô hình giao dịch thông qua công ty “chị em” ở nước ngoài ngày càng phổ biến — đặc biệt khi muốn tối ưu hóa quy trình thanh toán hoặc tận dụng lợi thế về thuế và logistics. Tuy nhiên, khi liên quan đến thư tín … Read More
Beware of SBLC Monetization Scams Every now and then, banks receive strange emails promising “SBLC monetization” or “MT760 leasing deals.” They sound sophisticated, quoting SWIFT message types and big bank names—but in reality, these are well-known fraud patterns designed to lure banks or clients into sending confirmation messages that scammers later misuse. In this week’s Q&A, Ms. Woo asks about one such suspicious request. Let’s … Read More
When the LC Calls for a Delivery Order under Ex-Works — What’s the Catch? Intro: Some LCs can look perfectly fine on paper — until you notice a small but crucial detail that could turn the whole deal upside down. In this case, it’s an Ex-Works shipment tied to a Delivery Order (D/O) instead of a Bill of Lading. Sounds harmless? Not quite. Let’s unpack it. _______ Question: Dear Mr. Old Man, Greetings. Hope … Read More
Invoices, Courier Receipts, Copy BLs and Dual Agents – Untangling Four LC Questions Intro Every so often, a single email lands with more than one tricky LC question bundled together. That happened here when Priya wrote in with four different scenarios on invoices, courier receipts, copy BLs and bills of lading with dual agents. Instead of sending four separate answers, I decided to walk through each case quickly, pointing to UCP 600 and … Read More
Hãng tàu có thể giữ hàng trong bao lâu? INTRO Đôi khi trong hợp đồng ủy thác nhập khẩu, doanh nghiệp gặp tình huống khách hàng trong nước chưa thanh toán, khiến doanh nghiệp cũng chậm trả tiền cho đối tác nước ngoài. Hệ quả là hãng tàu giữ hàng tại cảng, kéo theo chi phí lưu kho, lưu bãi và rủi ro pháp lý. Một bạn đọc đã … Read More
When Two LCs depends on Each Other – The Story of Reciprocal Credits These days, you’d be hard pressed to find a reciprocal LC in the market—they’ve more or less vanished with time. But that doesn’t mean the topic is useless. For processors who still have to import raw materials and then ship out finished products, understanding how reciprocal LCs once worked can still serve as a valuable reference point. QUESTION Dear Mr. … Read More
Should Banks Check Both Beneficiary Name and Account Number in Incoming Transfers? In cross-border payments, one recurring issue is whether receiving banks should credit funds solely based on the account number in the payment order, or whether they must also verify that the beneficiary name matches the account holder. Practices differ across countries, and the consequences are serious — especially in fraud cases. QUESTION Dear Mr. Old Man, In Korea, before remittances … Read More