DISPUTE SETTLEMENT Ravi's questionLegal Action as Ultima Ratio! Dear Frammi & Huu Duc, Thanks your kindly help and suggestion. We have contracted with this buyer nearly 48 fcls (including 10 fcls or ours). Basicaly we are indenting agent and the balance 38 fcls to other buyers who relay upon us and opened LC in time and amended the LC as per the … Read More
DOCUMENTS LOST IN TRANSIT (2) QUERY FROM JIM Hi! UCP600 says Article 35 Disclaimer on Transmission and Translation A bank assumes no liability or responsibility for the consequences arising out of delay, loss in transit, mutilation or other errors arising in the transmission of any messages or delivery of letters or documents, when such messages, letters or documents when such messages, letter or documents are … Read More
Discussion on the Term Negotiation in LC Transactions Bàn về thuật ngữ “negotiation” trong giao dịch thư tín dụng Nguyễn Hữu Đức Thuật ngữ “negotiation” được đề cập tại Điều 2, Điều 9(a)(iv) và được định nghĩa tại Điều 10(b)(iv) UCP 500. Tuy nhiên, dường như nhiều nhà ngân hàng và các bên tham gia giao dịch thư tín dụng (LC) không hiểu rõ thuật ngữ này hoặc … Read More
CONSIGNEE IN BL QUERY FROM shahriar Post subject: consignee in bill of lading Hello friends, can any one tell me what are the possible advantages issuing bank may have if the bill of lading is issued "to order" and blank endorsed instead of a "to the order of issuing bank" regds shahriar ——————————————-COMMENT FROM MR. OLD MAN Dear Shahriar, If the b/l is … Read More
CONSIGNEE SHOWN ON CERTIFICATE OF ORIGIN QUERY FROM BINHBENTRE Dear brother Old Man, I just searched on the internet and got to know your blog with an entry regarding Certificate of Origin (C/O), I am facing an issue, but don t know to to fix it, would you pls refer to the below case and give us your valuable advices. 1. A US trader bought cargoes … Read More
DISCOUNTING BY THE ISSUING BANK QUERY FROM NESAR AND COMMENT FROM MEHDIPost subject: Discounting by issuing bank Nesar: Dear All, A credit is available with a nominated bank by acceptance.Draft Drawn on nominated bank for 180 days after sight. query: Can issuing bank discout this bill? RegardsNesar——————————- Mehdi: I am not sure such arrangement of delayed payment is allowable under the existing regulations of the … Read More
DISCREPANT OR NOT? QUERY FROM PAN goods description differs in invoice, bill of lading etc. Goods description in a documentary credit is 29.000 m2 plus/minus 10 PCT. In availment Invoice for 28.500 m2 is presented, together with bill of lading and EUR certificate in which is indicated 29.000 m2 plus/minus 10 PCT, reporting in full the doc. credit goods description. Are documents discrepant … Read More