UPAS LC 2 QUERYUsance Letters of Credit We see usance Letters of Credit issued available with a bank by acceptance or negotiation. What is the difference and what are the advantages or disadvantages for an Issuing Bank or a Nominated Bank. ——————– COMMENTUsance L/C available by negotiation Hi, For your reference I would like to quote my old comment of 2007 in this … Read More
CONFIRMATION FEE 2 QUERY FRO JESSS RConfirmation Fee To all forum members, who usually shoulder the confirmation charge if L/C confirmation is required by beneficiary? is it the Applicant or the Beneficiary? Thanks —————————- COMMENTWho to pay for confirmation fee ? It depends on the negotiating position of the beneficiary and the applicant in the underlying transaction, i.e., who needs who more. But … Read More
WHICH PARTY IS LIABLE FOR PAYMENT OF CHARGES? BAGERO'S INQUIRY Topic might be confusing. The problem is that – I'm a manufacturer and my customer from MidEast has established L/C for which I'm insisting to change into TT payment. But the customer has already opened it (without my consent) and the advising bank contacted me about L/C. Of course, I informed the bank that I would not accept … Read More
WHERE CARRIER S AND AGENT S NAME ARE THE SAME QUERY FROM NESARPost subject: where cariier and agent name are same Dear all, a bill of lading has been presented under a credit where indicated that carrier name: ABC & CO. and on a signature Box an agent of the carrier signed as follows: [signature] ABC & Co.An agent of the named carrier. Can we raise a discrepency due to … Read More
UCP 600 BEFORE G-HOUR Bài viết đã đăng trên TCNH số 22 10/2006 UCP 600 trước giờ G Nguyễn Hữu Đức Sau bài viết “UCP 600 có gì mới ?” đăng trên Tạp chí Ngân hàng số 14 tháng 7/2006, người viết đã nhận được thư của nhiều bạn đọc quan tâm là các đồng nghiệp tại các ngân hàng, các giảng viên và … Read More
UNDER RESERVE Vs ON APPROVAL BASIS QUERY FROM AJIT What is the difference between "Under Reserve" and "On Approval Basis"? Are both same? At our end, if docs. need to be forwarded under reserve, we do not scrutinise the documents as per LC terms but forward them to issuing bank for examination as per LC. If docs. need to be forwarded on approval basis, then we … Read More
WHERE THE DRAFT IS OVERDRAWN QUERY FROM Md.zakir Hossen Post subject: bill of exchange overdrawn Shipping gurantee issued against copy documents. Original docs arrived and issuing bank found that invoice value is US$38115 whereas Bill of Exchange value is US$38145 and issuing Bank provide the discrepancy letter to the presenting Bank but presenting Bank remain silent. Opener released the goods by submitting the Shipping Guarantee. … Read More
URR 525 ARTICLE 17 AND eUCP LAN PHUONG’S QUERY Chú Đức thân mến, Cháu lại làm phiền chú 1 chút a. Cháu đang nghiên cứu thêm về URR 525 và eUCP. Cháu thấy cái này mới và rất ít tài liệu nói về nó đặc biệt là eUCP vẫn còn rất mới mẻ. Cháu có đọc một số điều khoản nhưng vẫn thấy rất khó hiểu … Read More
WHAT IS A STRAIGHT BILL OF LADING? QUERY FROM TULSI P, DUBAIWhat is a straight bill of lading? ————— ANSWER FROM MR. OLD MAN Dear Tulsi, The bill of lading that is made out to a named consignee is said to be a straight bill of lading, i.e. deliverable straight to a party named in the bill. As it is a straight bill of lading, not made … Read More
UCP 600 ARTICLE 28 INSURANCE DOCUMENT AND COVERAGE QUERY FROM 122222222… ĐIỀU 28 UCP 600 Thưa anh, phiếu bảo hiểm ngỏ là gì? nó có khác bảo hiểm đơn và chứng nhận bảo hiểm ở điểm nào Em hoc trường kinh tế năm 3, em đang nghiêu cứu về UCP600 nhưng có chỗ không hiểu mong anh giúp đỡ cho em. Điều 28(g): rủi ro thông thường hay … Read More