QUESTIONS Dear Mr. Old Man Could you please give me  your opinions on the following questions? QUESTION 1 L/C requires: – Commodity : Pharmaceutical products – Description:  Details of quantity and unit price as per contract no. 123 – Total amount: USD100,000.00 (+/-10%) Invoice presented shows: – Commodity: Pharmaceutical products – Description:  Details of quantity and unit price as per …

ON BOARD NOTATION; VESSEL NAME ON INVOICE.

QUESTION Dear Mr. Old Man, I need your help with the following: BL “received for shipment” shows as follows: Pre – carriage by: Akar H14356 Place of receipt: Hochiminh, Vietnam Ocean vessel: Norbir 26899H Port of loading: Hochiminh Port of discharge: Singapore Laden on board in Akar H14356 1. Is the above on board notation OK? 2. Should invoice show …

WHERE CORRECTIONS ON A BILL OF LADING ARE AUTHENTICATED BY A SEPARATE STATEMENT.

QUESTION We presented documents under 6 separate Ls/C. It was a commingled shipment all on the same vessel. Each BL mentioned the usual commingling clause “This shipment was loaded aboard the vessel as part of one original lot of 4000.153 kilos with no segregation…” The discrepancy (for one LC and then for all) was that the total mentioned in the …

SHORT SHIPMENT OR NOT?.

QUESTION Dear Mr Old Man, LC stipulates as follows: – Partial shipment: allowed. – Latest date of shipment: 13 Feb 2014 – Presentation period: within 15 days from the date of shipment but within the validity of the credit – Expiry date: 28 Feb, 2014. – Additional conditions: 135,000 meters will be on or before 13 Feb, 2014. Beneficiary makes …

INSURED PARTY UNDER THE INSURANCE POLICY.

QUESTION Hi, Please find my below query: As per ISBP 745 para K20(b): When a credit requires an insurance document to be issued “to order of (named entity)” the document need not indicate “to order” provided that the named entity is shown as the insured party or claims are payable to it, and assignment by endorsement is not expressly prohibited”. …

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