LATE PRESENTATION OR NOT? QUESTION Dear Mr. Old Man, A deferred payment LC stipulates as follows: F31D (Date and Place of Expiry): 150105 GERMANY F48 (Period for Presentation): WITHIN 21 DAYS FROM BILL OF LADING DATE The documents presented by the nominated bank in Germany shows the covering schedule date as 05 January, 2015 and the bill of lading date as 10 December, 2014. … Read More
DOCUMENTS DELIVERED ON A BANK HOLIDAY Hoi An Ancient Town QUESTION Dear Mr. Old Man, We have a real case that needs your urgent help. Our bank closed for 2015 New Year’s Holiday from Thursday 1 January to Sunday 4 January, 2015. On Friday, 2 January, 2015 DHL delivered one set of documents to our bank and a security guard signed the receipt of the … Read More
LATE DELIVERY PENALTY CLAUSE A corner of Hoi An Ancient Town Market QUESTION Dear Mr. Old Man, We need your comment on the following case: A credit issued by our bank states in Field 47A as follows: “Late shipment is acceptable but subject to a penalty of 2.5% for every 7 days (odd days less than seven days is considered as seven days). The … Read More
INSURANCE DOCUMENT ISSUED TO ORDER WITHOUT ENDORSEMENT QUESTION Dear Mr. Old Man, I will appreciate your comment on the following: LC requires: Insurance certificate to order and blank endorsed. Presented insurance certificate shows the assured party as “To Order” without endorsement. Let me know whether such an insurance certificate is acceptable. Thank you in advance. TPG ——- ANSWER Hi, According to ICC Opinion TA688rev, insurance documents should … Read More
ADDITIONAL NOTIFY PARTY AND THE NAME OF THE COUNTRY IN TRANSPORT DOCUMENTS Father and Daughter QUESTION Dear Mr. Old Man, I read ISBP 745 and feel confused with some articles. Please help me to clarify them: Paragraph D18 (a) say: “When a credit stipulates the details of one or more parties, a multimodal transport document may also indicate the details of one or more additional notify parties”. What if the credit stipulate … Read More
WHAT DOES D/A AT 30 DAYS SIGHT MEAN? Cows grazing. I took this photo along the road I rode to Ta Lang – a village of Co Tu ethnic people in Vietnam QUESTION Hi Mr. Old Man, We’ve received D/A documents at 30 days sight. How to calculate the due date in this case? 30 days from the document arrival date or 30 days from the drawee’s acceptance … Read More
WHETHER A DOCUMENT MAY INDICATE A DATE OF ISSUANCE LATER THAN THE DATE OF SHIPMENT A motor boat is heading up Cu De river. QUESTION Dear Mr. Old Man, L/C requires: HEALTH CERTIFICATE(S) ISSUED BY GOVERNMENTAL AUTHORITY, INDICATING: (A) THE FISHMEAL WAS PRODUCED IN A PROCESSING PLANT DEDICATED ONLY TO FISHMEAL PRODUCTION WHERE NO MATERIAL OF ANIMAL ORIGIN OTHER THAN FISH AND SEA FISH PROTEIN IS BEING USED; (B)THE FISH MEAL WAS TRANSPORTED IN MANNER … Read More
WHETHER FOB VALUE IS COST OF GOODS I’ll ride here again tomorrow morning! QUESTION Dear Mr. Old Man, May I ask for your comment of the following query: L/C states: 45A Description of Goods THREE ELEVATORS HS 84.28.10.20 , KRONE MONOSPACE 500 AS PER P.I. NO. 1234 DATED 07/07/2014 TRADE TERM: FOB 46A Documents required: + SIGNED COMMERCIAL INVOICE IN 4 COPIES SPECIFYING COST OF GOODS … Invoice … Read More
WHETHER BILL OF LADING DATE IS ISSUANCE DATE OF BILL OF LADING OR SHIPPED ON BOARD DATE QUESTION Hi Mr. Old Man. Please answer my question: Date of Issue of B/L is 02-12-2014 and Shipped on Board date is 29-11-2014. So, the B/L date indicated in other documents is 02-12-2014 or 29-11-2014? Thank you —————– ANSWER Hi, Here’s my quick answer: Majority vote for 02-12-2014. Shipped on Board date 29-11-2014 is regarded as Bill of Lading date … Read More
IMPORTING COUNTRY IN CERTIFICATE OF ORIGIN FORM A QUESTION Dear Mr. Old Man, I have a case regarding importing country in Certificate of Origin as follows. LC states: – Applicant: FROXA SA. AVDA.EL CHOPO… SPAIN – Port of discharge: LEIXOES PORT, PORTUGAL Certificate of Origin Form A presented shows importing country as PORTUGAL instead of SPAIN. Can we raise the discrepancy “Certificate of Origin showing PORTUGAL stead … Read More