TRANSFERRING BANK'S PAYMENT OBLIGATION QUERY FROM MANISH JAIN Article 38 (h) deal with substitution of invoice and draft in transferable credit. First beneficiary has the right to substitute its own invoice & drafts for those of second beneficiaries, for an amount totaling to the full value of the credit. First, beneficiary is also permitted to draw for any difference in amount between its draft, … Read More
INSURANCE COVERING ALL RISKS QUERY Em chào anh, Gần đây em mới được biết đến blog của anh, em đã đọc và thấy rất hữu ích cho công việc của mình.Hiện giờ em đang cần giải quyết gấp vấn đề sau, em nhờ anh tư vấn giúp em với: L/C quy định bảo hiểm 'All risks' including war risks and strkes clause..Cert of Marine … Read More
US ANTI BOYCOTT REGULATIONS QUERY FROM LTQ Dear Mr Duc B/L clause: the ship is not of Israelian flag and will not call any israelian ports water and/or territories and is not entered into black list of arabic countries the issuing bank refuse the docs with the discrepancy: boycott clause (according to U.S law). Pls give your comment on this case Thank so much. … Read More
SURRENDERED BILL OF LADING QUERY FROM LINH DAN Cám ơn anh đã trả lời câu hỏi hơi…đáng ghét hôm bữa của em nhé! Anh ơi, hôm rồi có 1KH đưa hồ sơ để th.toán TTR, mà B/L không phải B/L gốc,cũng không phải copy, trên B/L đó còn ghi là "NO ORIGINAL BL ISSUED. ORIGINAL BL SURRENDERED IN SINGAPORE". Em không hiểu: B/L này … Read More
RISKS IN LC TRANSACTIONS Dear HP, Subject: Risks to exporter and importer in LC transactions Documentary Credit (LC) is defined in UCP 600 Article 2 as any arrangement, however named or described, that is irrevocable and thereby constitutes a definite undertaking of the issuing bank to honour a complying presentation. That is to say, the exporter (beneficiary) will obtain the payment from the issuing … Read More
THE TERMS PREPAY AND PURCHASE QUERY FROM MEHDIK ON THE TERMS “PREPAY” AND “PURCHASE” Dear all What are differences between prepay and purchase of a accepted draft or a deferred payment undertaking under sub-article 12 b of UCP 600 ? I would be highly appreciated if you give a good example in this regrds.Regards ——————————– ANSWER FROM MR. OLD MAN Prepay and purchase Hi, It … Read More
REIMBURSEMENT CLAIM STATING DISCREPANCIES QUERY Khách hàng xuất trình chứng từ bất hợp lệ theo LC cho phép đòi tiền bằng điện thông qua Bank A. Bank A gửi cho ngân hàng nước ngoài điện đòi tiền MT742, có nêu rõ rằng chứng từ xuất trình có một số bất hợp lệ và đã trừ phí bất hợp lệ trong số tiền đòi. Ngân … Read More
SHIPMENT PRIOR TO LC ISSUANCE DATE QUERY FROM DM As per Lc terms documents issued prior to Lc Issue date is not acceptable. The Lc is issued on 6th January 2009. All documents shows issue date of 6th January 2009 or later including BL which shows issue date as 6th January 2009. However, the BL shows on board date as 5th January 2009 Whether it will … Read More
SURRENDERED BILL OF LADING; MATHEMATICAL CALCULATIONS QUERY FROM BH Anh Đức thân mến!Trước tiên e thay mặt tất cả chị em phòng TTQT CN VCB … xin gửi lời chào tới anh và lời chúc sức khoẻ.Anh Đức cho e hỏi 2 câu hỏi nhé. Khi nào có thời gian rảnh rỗi anh trả lời giúp em. Em cám ơn anh nhiều nhiều. Câu hỏi 1.Anh … Read More
SILENT CONFIRMATION AND LC AVAILABLE BY ACCEPTANCE QUERY FROM TradeFin Hello everyone, I have one question about the silent confirmation of LC. I've read in a book on LCs that: the LCs available by acceptance cannot be confirmed silently. Why? I can't find the reason. Thank you for your anwers BR ps. I'm new on this forum and i think it's great. ————————————————- ANSWER Hi, It is … Read More