WHETHER ARTICLE 20 IS APPLICABLE TO SURRENDERED BILL OF LADING QUESTION Dear Mr Old Man, Please give your idea about Surrendered Bill of lading. Can we apply Article 20 Bill of lading for checking Surrendered Bill of lading ? Looking forward to receiving your soon reply Thanks a lot LC —— ANSWER Hi, I guess that the surrendered bill of lading referred to in your question is a photocopy/copy of the bill of lading … Read More
WHERE THE PLACE OF EXPIRY AND AVAILABILITY ARE NOT THE SAME QUESTION Dear Mr. Old Man, I have a case relating to the place of expiry and the availability of LC: LC states: Field 31D: Date and place of Expiry: 31082015 Vietnam Field 41A: Available with…by Kuveyt Turk Katilim Bankasi A.S., Turkey by Payment Field 48: Period for presentation 21 days from shipment date but within credit Validity Beneficiary presents Bill of Lading … Read More
WHETHER THE CONFIRMING BANK CAN DISCOUNT ITS OWN ACCEPTED DRAFT BEFORE FORWARDING THE DOCUMENTS TO THE ISSUING BANK (Source: Quoted from DCPro Discussion Forum 9 July, 2015) At God’s Well (Da Nang, Vietnam) QUESTION Bank A being an issuing bank requests Bank B to advise and confirm a term L/C to the beneficiary. L/C is available with Bank B by acceptable and draft drawn on Bank B (the Confirming Bank). Is there any problem with this structure, especially … Read More
DOCUMENTS SENT ON APPROVAL BASIS (Source: quoted from DCPro Discussion Forum 9 July, 2015) Biking to God’s Well (Da Nang): Crying on the Bike QUESTION Documents presented by a beneficiary to its bank under a L/C subject to UCP 600. Documents contain some discrepancies including l/c expiry. Beneficiary requests it’s bank to send the documents without examination on approval basis. Should the beneficiary’s bank send … Read More
WHERE THE NOMINATED BANK DOES NOT NEGOTIATE THE DOCUMENTS QUESTION Hi Mr. Old Man, I feel confused with the following case: We as advising bank received a letter of credit available with any bank by negotiation and advised the same to the beneficiary. After shipment the beneficiary presented the documents to our bank and we forwarded the documents to the issuing bank without negotiation. I understand that in this … Read More
WHERE THE BILL OF LADING IS ENDORSED BY A PARTY OTHER THAN THE PARTY TO WHOSE ORDER IT IS MADE OUT Not far from my home. QUESTION Dear Mr. Old Man, I have a very urgent case that needs your opinion. B/L made out to the order of Bank A and notify Applicant. However, it is endorsed by Bank B (the Beneficiary’s bank) by mistake. The issuing bank raised the discrepancy. Is the discrepancy valid? Thank for your support PTH —— … Read More
MISSING COPIES OF NON NEGOTIABLE BILL OF LADING MISSING COPIES OF NON NEGOTIABLE BILL OF LADING. Read More
MISSING COPIES OF NON NEGOTIABLE BILL OF LADING QUESTION LC requires: Full 3/3 set of original and 4 non-negotiable copies bill of lading made out to order of issuing bank marked freight prepaid and notify applicant. We as confirming bank sent the documents without non-negotiable copies. The issuing bank cited the discrepancy “Less 3 non-negotiable copies of bill of lading”? Can by any way we as nominated bank … Read More
WHERE ORIGINAL BILLS OF LADING ARE LOST IN TRANSIT WHERE ORIGINAL BILLS OF LADING ARE LOST IN TRANSIT QUESTION Dear Mr. Old Man! We need your advice regarding documents (including original bills of lading made out to the order of our bank) lost in transit. Our bank issued LC in favor of the beneficiary in Indonesia. As the goods arrived at the port of discharge before the documents, our … Read More