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
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
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
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
SIGNING OF BILLS OF LADING; INTENTION OF B/L MADE OUT TO ORDER OF QUERY FROM NTT Kinh chao anh Duc, Loi dau thu em chuc anh va gia dinh luon manh khoe, cong tac tot va luon say me voi cac cau hoi ve L/C. Em xin duoc tu gioi thieu em la mot can bo thuoc phong Thanh toan Quoc te cua Vietcombank…. Rat nhieu lan phong em, cac chi da nho … Read More
STALE DOCUMENTS QUERY FROM SHAHED (CANADA) Hi everybody, May i know what is your understanding about stale documents ? Is it approved by ICC ? Regards, ShahedToronto ——————————COMMENT FROM N.H. DUC (VIETNAM) Hi Shahed, In L/C transaction, the phrase “stale documents” is commonly understood as the documents presented later than 21 calendar days after the date of shipment. ISBP para. 21 says … Read More
QUANTITY SHOWN ON INVOICE DIFFERS FROM THAT ON OTHER DOCUMENTS QUERY FROM KL Em đang gặp 1 vấn đề phân vân như vầy: L/C quy định: F39A( percentage credit amount tolerance):0/0và F45A:Quantity 10mts/+-10%; CIF value:USD60,000.00 Chứng từ xuất trình như sau:Inv thể hiện: Quantity:10.5mts; INV value: USD60,000.00B/L thể hiện: Quantity: 10mts/+-10% kèm với câu : Shipper s load and countC/O thể hiện: Quantity 10mts/+-10%, FOB value: USD55,000.00. (Đây là hàng … Read More