WHERE BL IS REQUIRED TO SHOW BOTH APPLICANT AND ISSUING BANK AS CONSIGNEE QUESTION Dear Mr. Oldman, Good day, I’m Stefan a banker from Switzerland who just entered the beautiful world of L/C’s. I want to also add that I’m a big fan of yours and I often check your blog when I look for “answers”. I’m contacting you because I have a very interesting case of study: We (advising/negotiating bank), received an … Read More
WHERE THE DOCUMENTS ARE LOST QUESTION Dạ em chào anh, em học xuất nhập khẩu và được một và người bạn giới thiệu về Blog của anh. Em cám ơn anh vì giúp em mở mang được rất nhiều thứ. Em có một thắc mắc về L/C giáp lưng, không biết anh có thể giải đáp giúp em được không ạ… Em có 1 tình … Read More
BEARER BILL OF LADING – VẬN ĐƠN VÔ DANH QUESTION Chào Mr. Old Man, Chúng tôi đang tranh luận về việc có hay không loại vận đơn bỏ trống ô “consignee” (người nhận hàng) và nếu có thì đó là loại vận đơn gì. Rất mong nhận được ý kiến của Mr. Old Man về vấn đề nêu trên. Xin cám ơn. XXX —– ANSWER Hi, Tôi nghiên cứu … Read More
WHETHER THE NOMINATED BANK IS PROTECTED BY ARTICLE 12 IF IT PURCHASES A DEFERRED PAYMENT UNDERTAKING INCURRED BY THE ISSUING BANK QUESTION Dear expert, I have one question. Could you give me your professional answer? If the nominated bank does not incur a deferred payment undertaking on presentation of complying documents and forwards them to issuing bank. Subsequently can the nominated bank a purchases a deferred payment undertaking from the issuing bank and seek protection under UCP 600 article 12 Regards TF … Read More
INSURANCE COVER UNDER CIF INCOTERMS QUESTION Dear Mr. Old Man, We have received a proforma invoice wherein the incoterms is CIF ICD Birgunj, Nepal. Nepal is a landlocked country and goods first arrive to Indian sea ports, Kolkata or Vishakhapatnam and then goods are transferred to rail/truck for transportation to final destination. In this case, the beneficiary has agreed to transport the goods till ICD … Read More
WHERE THE ISSUING BANK MAINTAINS NO CORRESPONDENT BANKING RELATIONSHIP WITH THE BENEFICIARY’S BANK QUESTION Good Day. I’m Shakil Mostafa, SCM & logistics practitioner in Bangladesh. I have been working in international trade for around 12 years. I am a regular reader of your blog and Web: www.mroldman.net You are the real LC expert I have ever seen. I need your help regarding the below issues: Case: We want to import from the company … Read More
WHETHER A TRANSFERRED LC CAN BE TRANSFERRED TO A THIRD BENEFICIARY QUESTION Sir I am trader in petroleum field. I have the following issue and need your advising: My client is the first beneficiary who will receive the LC via mt700 from his end user then will transfer it to me as the second beneficiary via MT 720 Now I want to transfer MT 720 to the end seller as the … Read More
CASE STUDY GIAO THỪA – MÓN QUÀ ĐẦU NĂM Vào thời khắc giao thừa, Mr. Old Man ngồi nhìn lại một năm đã trôi qua thật nhanh và thấy rằng năm Canh Tý 2020 là một năm Mr. Old Man đã gặp nhiều may mắn, mọi chuyện từ công việc, xã hội, gia đình đến thú vui đạp xe đạp… đều suôn sẻ. Nhân dịp năm mới Tân Sửu … Read More
WHETHER AN SBLC CAN BE ADVISED TO THE BENEFICIARY IN CARE OF ANOTHER COMPANY QUESTION Dear Mr. Old Man, Greetings from Istanbul City – Turkey, I have 2 questions and need your “help please”, Question 1: Our company registered at UK-London and Buyer company located in Dubai, but because of Coronavirus we do not go back to London and work from here Istanbul home based. Buyer bank has correspondent bank account at Commerzbank and … Read More
CONFIRMED TRANSFERRED LETTER OF CREDIT QUESTION Dear Mr Old Man, I read your blogs and find them really interesting and helpful. I have a query regarding transfer LC 1. Can a confirmed LC be transferred? 2. If yes, is it mandatory that confirmation is carried forward in MT720? There is confusion regarding the same since as per UCP only 5 things can be reduced and … Read More