Uncategorized EXPIRY PLACE By Mr Old Man Posted on March 7, 2012 4 min read 7 0 4,184 Share on Facebook Share on Twitter Share on Google+ Share on Reddit Share on Pinterest Share on Linkedin Share on Tumblr QUESTION Gd morning Mr Old Man Thank you so much for yr prompt reply. Actually I felt rather awkward calling you “Mr Old Man” when you look so young in the picture! Mr Old Man depicts you are a very “Wise Man” haha.. I will be taking CDCS exam this coming Apr but do not have much confidence. I would like to have more practical test but can only find one in CDCS website.Furthermore, there is no related CDCS course conducted here. The questions are very tricky. Hope you can give me some advice. I have one question need your expert opinion. My customer (applicant) would like to open an L/C to a Singapore bank. Beneficiary showing Hong Kong address.Applicant requested the place of expiry to show “Singapore or Hong Kong” reason being beneficiary cannot decide whether the docs will negotiate in Hong Kong or Singapore as beneficiary has operations both in Singapore and Hong Kong. Can we accept such a requirement? My understanding is that we can only indicate one expiry place. Pls help! Many thanks!Jas—————————–ANSWER Dear Jas, 1) Mr. Old Man was simply a nick given by a friend when I first joined the world of blogs. 2) If you are interested in CDCS tests, you may access www.besttradesolution.com to test yourself. 3) In practice, the expiry place is the same as the place for availability. The beneficiary can present the documents to the bank with which the L/C is available within the stipulated expiry date and presentation period. It is true that where the L/C is available by negotiation with any bank, the expiry place is normally in the country of the beneficiary. However, this is not a MUST. If the L/C states it is available by negotiation with any bank in Singapore or Hong Kong, the beneficiary may make presentation to any bank in Singapore or Hong Kong for negotiation within the expiry date and/or by the last day for presentation. Such a requirement in my opinion is acceptable. Best regards, Mr. Old Man——————-JASMINE LEW'S COMMENT Hi Mr Old Man, Thanks for yr advice. I’ve learnt something new! I’ve accessed besttradesolution before. Also another good platform to learn from. However, I still like your comments and explanation which is very clear cut and easy to understand. Thanks again. Will keep in touch with you soon! Cheers, Jas