QUESTION Dear Mr. Old Man, I have a case regarding “Copy of  Health Certificate” as follows: LC requires: ONE COPY OF HEALTH CERTIFICATE ISSUED BY GOVERNMENTAL AUTHORITY STATING: (A) THE FISHMEAL WAS PRODUCED IN A PROCESSING PLANTS DEDICATED ONLY TO FISHMEAL PRODUCTION WHERE NO MATERIAL OF ANIMAL ORIGIN OTHER THAN FISH PROTEIN IS BEING USED. (B) THE FISH MEAL WAS TRANSPORTED IN A …

QUESTION Dear Mr. Old Man, Can an expired LC be amended to extend the expiry date? Is there any provision that prevents the expired letter of credit from being amended to extend the expiry date? Thank you PMB ——–   ANSWER Hi, The answer is No and Yes. It depends. According to UCP 600 sub-article 10 (a), except as otherwise …

QUESTION Dear Mr. Old Man, LC requires: FULL SET 3/3 ORGINAL CLEAN ON BOARD BILLS OF LADING MADE OUT TO ORDER AND BLANK ENDORESED, NOTIFY APPLICANT MARKED FREIGHT COLLECT. Field 50 (Applicant): ABC GMBH + CO.KG DONAUWOERTHER STR.  3 – 5 866 RAIN AM LECH DEUTSCHLAND Bill of lading presented shows as follows: 1) Notify party shows the applicant’s name …

QUESTION Hi bro, Could you give me some advice concerning  the case where the issuing bank may refuse to honour and return documents even when the applicant agrees to waive the discrepancies? What situations that the  issuing bank may do that ? RN ANSWER Dear RM, Thank you for your  question. It is rare but  it may occur in the following …

QUESTION Dear Mr. Old Man, The presenting bank presented the documents to the issuing bank for payment. However, the documents did not comply. Therefore, the issuing bank  refused the documents and advised the applicant of the same. The applicant informed the issuing bank that he would agree to pay half of the claimed amount. Does the issuing bank need to …

A corner of Hoi An Market, Hoi An Ancient Town, Vietnam QUESTION Dear Mr. Old Man, I need your advice on the following . Is it a discrepancy when commercial didn’t indicate actual port of discharge as per LC (eg. PAFF Hong Kong ) i/o showing statement “Shipped from Busan South Korea to Hong Kong”. Note: Invoice and LOI presented …

Try your best! Only 500 meters left to the finish line. QUESTION Dear Mr. Old Man, LC requires presentation of ocean bill of lading. A bill of lading is presented showing as follows: ——– CODE NAME “CONGENBILL”. EDITION 1994 BILL OF LADING TO BE USED WITH CHARTER PARTIES ——— Can we raise the discrepancy “Congenbill presented I/O Ocean Bill of …

QUESTION Hi Mr. Old Man, I have a question about the amount L/C tolerance. Could you please give me your advise on the following case: L/C at sight with full amount 252,259 USD. L/C does not show tolerance and  partial shipment is prohibited. If we issue the invoice with the amount less than 252,259 USD, then is it a discrepancy …

QUESTION Dear Mr. Old Man, I understand that  the beneficiary is not allowed to accept part of an amendment. I want to know whether the amendment is deemed to be accepted or rejected when a presentation complies with part of the amendment only. I would appreciate your soon answer. Thank you in advance. Best regards, VAN ——— ANSWER Hi, Your …

QUESTION Hi, In reply to a question regarding insurance policy and insurance certificate, you said: “Please note that if the LC requires an insurance certificate, an insurance policy presented is acceptable, but if the LC requires an insurance policy, an insurance certificate presented is not acceptable unless the LC provides that an insurance certificate issued under an open policy is …