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
CAN BANKS IN VIETNAM ISSUE STANDBY L/Cs? Thu Cam's query on standby L/Cs Dear Mr. Duc, Relating to Standby LC, you mean that banks in Vietnam can not issue this kind of LC or they can but rarely issue it. In one case, one customer asks us to issue a Standby LC, for a loan of this customer at another bank, IFO this bank. All are in … Read More
CAN THE ISSUING BANK DISCOUNT ITS OWN ACCEPTED DRAFT OR DEFERRED PAYMENT UNDERTAKING? QUERY FROM GhubshawiCan the issuing bank negotiate? Dear All, According to article 7.a.i & b of UCP600 the responsibility of the issuing bank is limited to honour and not to negotiate. Assume that a deffered L/C is available by negotiation with a nominated bank and that bank doesn't negotiate, could the issuing bank, in light of article 7.v., negotiate in … Read More
BRINGING A LAWSUIT IS NOT ALWAYS A GOOD SOLUTION Mr. Old Man exchanging views with Frammi on legal action www.letterofcreditforum.com Bringing a lawsuit is not always a good solution Dear Frammi, I see no way to object to your reasoning. However, I wish to point out a fact that traders in developing countries like ours prefer to settling their disputes by amicable negotiation to bringing to courts. For these … Read More
AWB ISSUED TO ORDER AND ENDORSEMENT QUERY FROM GHUBSHAWI Dear DC Experts, I'm an applicant of L/C which was issued stating that the goods to be consinged to the issuing bank and our company as notify party. Upon the receipt of the original shipping documents by issuing bank, the AWB found to order of the issuing bank, but not stating our company as notify party as … Read More
BILL OF LADING AND LETTER OF CREDIT QUERY FROM THU THUY Chào anh, Em la Thủy, sv năm 3 trường ĐH Kinh tế TP.HCM. Em có một câu muốn hỏi anh. Em được giao làm 1 đề tài về mối quan hệ giữa B/L và L/C, nhưng vì chưa tiếp xúc trực tiếp bao giờ nên không hiểu rõ lắm. Trong chương trình dạy chỉ có lý … Read More
ASSIGNMENT UNDER URDG QUERY FROM DOAN THU Pls help me on an issue out of your interest I am working on the guarantee proceduree. URDG states that The beneficiary s right to make a demand under a Guarantee is not assignable unless expressly stated in the Guarantee or in an amendment thereto. The Guide to URDG explains that the ben can make a … Read More
BANK REALIZATION CERTIFICATE JSHANOO’S QUERYBRC against Confirmed LC Hi All, I have made shipment against confirm LC payment to be matured in 180 days, since it is usance LC. Applicant has accpeted the documents, naturally my payment will mature in 180 days Now my question is I have approached the bank for the issue for Bank Relisation Certificate for the further claimg of … Read More