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”. … Read More
QUESTION REGARDING ON BOARD NOTATION AND ISBP 745 E6 QUESTION Hypothetical Case LC requires marine bill of lading for port to port shipment with shipment to be effected from Central port, Mars and Different sets of bills of lading presented with below observations:- Case 1: PcV : PoR : Central Port, Mars V’l : MV-100 PoL: Central Port, Mars TOB: Received for Shipment Case 2: PcV : PoR : … Read More
PACKING LETTER OF CREDIT QUESTION Bên em nhận được thông tin từ khách hàng về Packing letter of credit, nhưng bên em chưa nghe về loại LC này bao giờ, tìm kiếm trên google thì thông tin cũng rất vắn tắt, chỉ có định nghĩa như sau: “A borrowing facility provided by a financial institution to help an exporter finance the costs of buying or making a set of products, and then packing and transporting them before shipment occurs. A … Read More
WHERE LC REQUIRES INSURANCE DOCUMENT TO BE ISSUED TO THE ORDER OF THE ISSUING BANK WHERE LC REQUIRES INSURANCE DOCUMENT TO BE ISSUED TO THE ORDER OF THE ISSUING BANK. Read More
WHICH TYPES OF LC REQUIRE PRESENTATION OF DRAFTS WHICH TYPES OF LC REQUIRE PRESENTATION OF DRAFTS. Read More
MR. OLD MAN HAS MOVED HIS BLOG TO WORDPRESS Dear Readers, My Opera is closing 1st March. I, therefore, had to move my home from My Opera http://my.opera.com/mroldmanvcb/blog/ to WordPress http://nhducdng.wordpress.com/. All my posts and comments on My Opera were exported to my new blog at http://nhducdng.wordpress.com/. Taking this opportunity I would like to say “thank you” to you for having been with me during my time with My … Read More
WHICH TYPES OF LC REQUIRE PRESENTATION OF DRAFTS QUESTION Can any one clear me the specific rules for draft for different type of LC? . 1. If LC available by payment then Draft is must/must not / maybe? 2. If LC available by Deffered payment then Draft is must/must not / maybe? 3. If LC available by Negotiation then Draft is must/must not / maybe? 4. If LC … Read More
WHERE LC REQUIRES INSURANCE DOCUMENT TO BE ISSUED TO THE ORDER OF THE ISSUING BANK QUESTION Can anyone clarify my doubt regegarding insurance document? LC calls for insurance document to be issued to the order of issuing bank in negotiable form. Insurance policy presented shows assured as beneficiary and blank endorsed. In the bottom of the document along with other clause states to order of issuing bank. Is this discrepancy? Divya ———————— ANSWER Dear Divya, … Read More