QUESTION Dear Mr. Old Man, I am a frequent follower of your blog whose posts are very helpful for my work as a trade finance specialist. I have a case regarding LC number and date in transport documents as follows: I see that LC would require all documents including transport documents to indicate LC number and date. However, sometimes shipment …

QUESTION Dear Mr. Old Man, I have a case relating notify party in bill of lading. LC requires:  Full (3/3) set of originals clean shipped on board … and notify the applicant with full name and address. LC applicant: MKH CO.,LTD …….. DIEN BIEN PHU STREET, HO CHI MINH CITY, VIETNAM Bill of Lading presented shows two notify parties as follows: Notify …

QUESTION Dear Mr. Old Man, I have two cases that need your comments: Case 1: LC requires presentation of insurance policy/certificate in one original and one copy. The presenter presents one original and copy of insurance certificate. However, the insurance certificate presented indicates 2 originals issued. Can we raise the discrepancy “Insurance certificate: Only one instead of two originals presented”? …

QUESTION Dear Mr. Old Man, I have a case regarding invoice as follows: LC stated that: SIGNED AND STAMPED COMMERCIAL INVOICE ISSUED BY THE BENEFICIARY IN THE NAME OF APPLICANT CERTIFYING THAT GOODS INVOICED STRICTLY COMPLY WITH THOSE MENTIONED IN THE ABOVE PROFORMA INVOICE IN 3 ORIGINALS AND 3 COPIES. Invoice presented by the beneficiary showing: “In the name of applicant CERTIFYING …

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QUESTION Dear Mr. Huu Duc! Please help us with the following cases: Question 1: LC issued by our bank stipulates latest shipment date as 150915 and requires presentation of copy of Air Waybill. A copy of the Air Waybill presented states “executed on Sep 19, 2015” and there is no notation of flight number and date. I tend to raise the discrepancy “late …

(quoted from DCPro Discussion Forum 16 Dec 2015) QUESTION Bank B in Germany confirmed a L/C, issued by Bank A in Brazil. Bank B forwarded the L/C by MT710 to the beneficiary through an advising bank in Canada. Field 40B states “Irrevocable and adding our confirmation”. The L/C is available with the confirming bank B in Germany by def. payment. …

QUESTION Dear Mr. Old Man, I have a question that needs your clarification. It is commonly known that when drafts are to be drawn at xxx days after or from the the bill of lading date and the presented bill of lading shows both the issuing date and the on board date, the on board date is to be used …

QUESTION Dear Mr. Old Man, May I request you to please explain me the difference between Negotiable & Non – Negotiable Sea Waybills in details if possible? Thanks a lot for your time. Abdul ———– ANSWER Hi, No difference! Sea Waybill and Non-Negotiable Sea Waybill are One and Non-Negotiable. Sea Waybill or Non-negotiable Sea Waybill is described as a document …