CARGO RECEIPT AND EXW TERM IN LC QUERY FROM EMILY Dear Mr. Old Man, How are you? I haven't written to you for a long time; however, I'm always an audience of your Blog and I never miss a chance to read any your Bloggings. They are really useful for my work. Up to now, I have been working as an International Payment staff for nearly a … Read More
CLAIMING A REFUND UNDER L/C LAN PHUONG’S QUERY Chú Đức kính mến! Không biết chú có còn nhớ cháu không, cách đây mấy hôm cháu có gọi điện cho chú ah, quả thực từ lúc được đọc các bài viết của chú về UCP 600 cháu cảm thấy rất thích thú và càng thích tìm hiểu về lĩnh vực này hơn, qua điện thoại cháu … Read More
CFR VS CIF QUERY FROM DONAPATRICE CIF/CFR WHAT IS THE DIFFERENCE BETWEEN cif/cfr? ————————— MR. OLD MAN’S COMMENT Hi Donapatrice It's a simple question. The below quoted from Incoterms 2000 can help answer your question: "CFR: COST and FREIGHT means that the seller delivers when the goods pass the ship's rail in the port of shipment. The seller must pay the costs and … Read More
CONFIRMATION FEE QUERY FROM ELIE Claiming confirmation fee from issuing bank An issuing bank authorizing the advising / negotiating bank to add its confirmation on an L/C, refuses to honor the confirmation fee when requested by the advising bank upon notifying the L/C to the beneficiary. The L/C terms stipulate that confirmation fee is on applicant's account. The issuing bank’s reason for … Read More
CONDUCT RULES FOR BLOGS Blog đã trở thành sân chơi đa màu sắc của nhiều người, đặc biệt là giới trẻ. Bên cạnh những blog nghiêm túc vẫn có nhiều blog gây phản cảm cho người đọc. Có nhiều ý kiến cho rằng cần xây dựng một quy tắc ứng xử trên blog nhằm hạn chế những blog đó. Người viết bài này cũng … Read More
CONFIRMING BANK'S LIABILTY TOWARD DISCREPANT DOCUMENTS NEW CASE STUDY FROM Mohammed al-kelani Dear colleagues in trying to present the most important cases that might face any of us during handling an L/C kindly give some minutes of your time to think about the following; an L/C is issued available with a nominated bank by sight payment requesting the nominated bank to(ADVISE/CONFIRM) the L/C besides being the … Read More
AVAILABILTY GHUBSHAWI'S QUERY Dear All, Can the L/C be available with the confirming bank, in case the nominated bank is other than the confirming bank? If no, what is the point for the confirming bank to add it's confirmation for an instruement not available with him? Please help with your comments. Best, Ghubshawi ———————————– COMMENT Based on Art. 6 (a) which … Read More
CARGO RECEIPT QUERY FROM TRAN TUAN ANHSubject: cargo receipt Hi Mr Old Man ! Tôi muốn Mr giải thích hộ vấn đề sau : Đây là tình huống phát sinh ở ngân hàng của tôi. Trong LC quy định điều kiện giao hàng là DAF Hữu Nghị,Lạng sơn, Incoterms 2000. Ngân hàng phát hành yêu cầu Cargo receipt được lập thành 3 … Read More
CLEAN ON BOARD QUERY FROM PAN Art 27 UCP CLEAN -This is the word Hi friends, I attended an educational on UCP 600-after one year experience and I really wondered when the speaker stated:"If a Bill of lading is requested in a doc. credit "MARKED CLEAN", the word "CLEAN" must appear on that document. I read UCP and Commentary 601 and I confirm … Read More
CAN THE ISSUING BANK REFUSE TO ISSUE AMENDMENTS? Shaik Mohammad's queryCan issuing bank rejects to issue an Amendment Hi DLC Experts need your help. Bene wanted to extend the LC expirty to one year. Bene asked applicant to issue an amendment for this. Applicant approaches issuing bank to issue an amendment, but issuing bank rejects to issue an amendment. Can issuing bank behave like this???? Can issuing bank … Read More
Does a Longer L/C Expiry Date Mean Greater Risk? And Is the Word “Clean” Really Necessary on a Bill of Lading?
Does a Longer L/C Expiry Date Mean Greater Risk? And Is the Word “Clean” Really Necessary on a Bill of Lading?