Mr Old Man PARTIAL SHIPMENTS UNDER SUB-ARTICLE 31 (B) QUESTION Dear Mr. Old Man, LC does not allow partial shipments. Documents were presented to the issuing bank in two separate covering schedules. The first set reached the issuing bank’s counter on 5 O… Read More
Mr Old Man WHEN A BILL OF LADING MUST INDICATE ACTUAL PORT OF DISCHARGE QUESTION Dear Sir, My letter of credit (LC) specifies the Port of Discharge as “BAHRAIN INTERNATIONAL AIRPORT AND/OR ANY SEAPORT OF BAHRAIN.” For a sea shipment, if we indicate the Port of Discharge a… Read More
IS THE NOMINATED BANK REQUIRED TO VERIFY WHETHER THE BENEFICIARY HAS AUTHORIZED THE PRESENTING BANK TO PRESENT THE DOCUMENTS?
DON'T BE TOO STRICT IN EXAMINATION 5 Mar 2010 QUERY FROM STUDENTThu, 01/15/2009 – 17:46 — student HI EXPERTS, LC STATES THAT "B/L MUST SHOW THAT 14 DAYS DETENTION FREE ALLOWED AT PORT OF DISCHARGE" NOW WE OBTAIN 21 DAYS DETENTION FREE AND THE WORDING SHOWS ON BL IS AS "21 DAYS DETENTION FREE ALLOWED AT PORT OF DISCHARGE" IS IT DISCRIPANY OR NOT?? PLZ COMMENTS…… —————————————————————————————- COMMENT FROM …
FACSIMILE SIGNATURE V PHOTOCOPIED SIGNATURE 5 Mar 2010 QUERY FROM PHUONG ANH Mr Old Man cũng thức khuya ha. Anh có biết làm cách nào để phân biệt facsimile signature và chữ ký photo k? ————————— COMMENT FROM MR. OLD MAN Chào Phương Anh, Facsimile signature là phiên bản của chữ ký bằng tay được khắc, in, làm thành con dấu, cài sẵn trên máy vi tính hoặc …
DOCUMENTS NOT COMPLYING TO A NOT YET ACCEPTED AMENDMENT 5 Mar 2010 QUERY Doanh nghiệp M mở 1 LC qua NH mở là NH 1 và thông báo qua NH A cho DN N. Sau đó theo yêu cầu của M, NH I phát hành 1 lệnh sửa đổi: – Ngày giao hàng ngày 12/4 thành 7/4– Và được ghi chú: trong vòng 5 ngày kể từ ngaỳ nhận được lệnh sửa …
COURT ORDER 5 Mar 2010 QUERY FROM YEN HA Em có một trường hợp muốn hỏi Mr.Hợp đồng thương mại không quy định cơ quan giải quyết tranh chấp và luật áp dụng, L/C kỳ hạn chấp nhận. Tuân thủ ucp 600. Công ty A Việt Nam: Nhà nhập khẩuCông ty B Ấn Độ: Nhà xuất khẩuABC Bank: NHPHNgân hàng Ấn Độ: NHĐCĐ Sau khi …
DISCOUNT UNDER TRANSFERRED CREDIT 5 Mar 2010 QUERY Hi; As per sub-article 38-j of UCP 600 it is possible to make the transferred credit available at the place to which a documentary credit is transferred. Sub-article 12-b of UCP 600 provides for discount authorization simply by the issuing bank nominating a bank to accept a draft or incur a deferred payment undertaking. Taking into consideration of the …
CREDIT Vs CONTRACT 5 Mar 2010 QUERY FROM LANESRA MAN Chứng từ và hợp đồng không khớp nhauE đang có một bài tập lớn của môn Giao dịch TMQT. Cô giáo yêu cầu phải phân tích một bộ chứng từ và hợp đồng thực tế. Qua người quen ở Vietcombank e có mượn được một bộ hợp đồng và chứng từ nhập khẩu.Tuy nhiên trong hợp …
WHEN A BILL OF LADING MUST INDICATE ACTUAL PORT OF DISCHARGE QUESTION Dear Sir, My letter of credit (LC) specifies the Port of Discharge as “BAHRAIN INTERNATIONAL AIRPORT AND/OR ANY SEAPORT OF BAHRAIN.” For a sea shipment, if we indicate the Port of Discharge as “Bahrain Seaport of Bahrain” or “Bahrain, Bahrain” on the bill of lading, would either of these be considered a discrepancy? Additionally, could you please provide the … Read More
POTENTIAL FRAUD IN SCRAP METAL TRADE: A RISKY DEAL? QUESTION Dear Mr. Old Man, My name is Th., and I am currently living and working in Ho Chi Minh City. At the moment, I am working on several projects related to international payments. However, to be honest, I know nothing about this field because my background is in construction. I have been struggling quite a bit with international trade … Read More
INVOICE NOT CERTIFYING WHAT HAS NOT BEEN SHIPPED QUESTION Dear Sir, LC allows both AIR and SEA shipment. Amount: USD 100,000 Shipment by AIR: USD 40,000 Shipment by SEA: USD 60,000 43P: Partial Shipments: ALLOWED 43T: Transshipments: ALLOWED LC Clause states “INVOICE MUST CERTIFY THAT THE MERCHANDISE ARE IN ACCORDANCE WITH PROFORMA INVOICE NO. XXX DATE XXX FOR USD 40,000.00 AND PROFORMA INVOICE NO. YYY DATED YYY FOR … Read More
WHAT IS THE IMPACT OF EXCLUSION OF UCP 600 SUB-ARTICLE 12b? QUESTION Dear Mr. Old Man, I hope my email finds you doing well I would ask you if the issuing bank wish to exclude article 12 b by credit what is the impact and scenario in this case. Thanks for your reply in advance Regards Firas —- ANSWER Hi, UCP 600 Sub-article 12(b) states that when an issuing bank nominates … Read More
IS THE NOMINATED BANK REQUIRED TO VERIFY WHETHER THE BENEFICIARY HAS AUTHORIZED THE PRESENTING BANK TO PRESENT THE DOCUMENTS? QUESTION Dear Mr. Old Man, I hope you’re doing well. Could you please help clarify the following questions regarding the LC collection procedure between the beneficiary and the presenting bank? Is the beneficiary required to complete any authorization process with the presenting bank when instructing them to forward documents to the issuing bank for payment or to the nominated bank … Read More
CAN THE ISUING BANK CITE “LATE PRESENTATION” AS A DISCREPANCY SOLELY BASED ON THE DATE OF THE COVER LETTER? QUESTION Dear Mr. Old Man, We would appreciate your guidance on the following matter: The L/C requires documents to be presented within 15 days after the Bill of Lading date, but the last permitted date for presentation falls on a Sunday. The negotiating bank’s cover letter, which certifies compliance with the L/C terms, is dated on the following Monday. Would … Read More
RETURN OF DOCUMENTS (rev) QUESTION Dear Mr. Old Man, We seek your advice regarding a case involving document discrepancies. As the issuing bank, we have received a set of documents in which all originals of the insurance certificates are not endorsed in blank as required. The applicant has informed us that the beneficiary has agreed to replace these discrepant insurance certificates and has requested … Read More
TRẢI NGHIỆM XE BUS ĐÀ NẴNG-HỘI AN & TIẾNG MỸ BỒI Lần đầu tiên, Mr. Old Man đi xe bus từ Đà Nẵng đến Hội An và ngược lại, mang theo chiếc xe đạp gấp 3 Sixty. Đó một trải nghiệm thú vị và đáng nhớ: Mr. Old Man đạp xe ra trạm xe bus gần nhà và chờ ở đó chừng 20 phút là lên xe bus, suốt hành trình … Read More
UNDERSTANDING SERVICES LETTER OF CREDIT (LC) QUESTION Dear Sir, Could you help me understand the concept of a Services Letter of Credit? I would also appreciate it if you could provide a draft of a Services LC. Looking forward to your assistance. Best regards, Jawad Askari Bank Pakistan —– ANSWER Hi, A Services Letter of Credit (LC) is issued to guarantee payment for services rendered … Read More
CAN A BANK ISSUE AN LC FOR AN AMOUNT LESS THAN THE PROFORMA INVOICE? QUESTION Dear Sir, This is Jawad from Askari Bank, Pakistan. I would like to confirm whether a bank can issue a Letter of Credit (LC) for an amount lower than the proforma invoice amount. For example, if the proforma invoice amount is USD 100, can the applicant request an LC for only USD 45? Additionally, if the applicant later requests … Read More
Mr Old Man WHEN A BILL OF LADING MUST INDICATE ACTUAL PORT OF DISCHARGE QUESTION Dear Sir, My letter of credit (LC) specifies the Port of Discharge as “BAHRAIN INTERNATIONAL AIRPORT AND/OR ANY SEAPORT OF BAHRAIN.” For a sea shipment, if we indicate the Port of Discharge a… Read More
IS THE NOMINATED BANK REQUIRED TO VERIFY WHETHER THE BENEFICIARY HAS AUTHORIZED THE PRESENTING BANK TO PRESENT THE DOCUMENTS?
CAN THE ISUING BANK CITE “LATE PRESENTATION” AS A DISCREPANCY SOLELY BASED ON THE DATE OF THE COVER LETTER?
Mr Old Man WHEN A BILL OF LADING MUST INDICATE ACTUAL PORT OF DISCHARGE QUESTION Dear Sir, My letter of credit (LC) specifies the Port of Discharge as “BAHRAIN INTERNATIONAL AIRPORT AND/OR ANY SEAPORT OF BAHRAIN.” For a sea shipment, if we indicate the Port of Discharge a… Read More
IS THE NOMINATED BANK REQUIRED TO VERIFY WHETHER THE BENEFICIARY HAS AUTHORIZED THE PRESENTING BANK TO PRESENT THE DOCUMENTS?
CAN THE ISUING BANK CITE “LATE PRESENTATION” AS A DISCREPANCY SOLELY BASED ON THE DATE OF THE COVER LETTER?
WHEN A BILL OF LADING MUST INDICATE ACTUAL PORT OF DISCHARGE QUESTION Dear Sir, My letter of credit (LC) specifies the Port of Discharge as “BAHRAIN INTERNATIONAL AIRPORT AND/OR ANY SEAPORT OF BAHRAIN.” For a sea shipment, if we indicate the Port of Discharge as “Bahrain Seaport of Bahrain” or “Bahrain, Bahrain” on the bill of lading, would either of these be considered a discrepancy? Additionally, could you please provide the … Read More
POTENTIAL FRAUD IN SCRAP METAL TRADE: A RISKY DEAL? QUESTION Dear Mr. Old Man, My name is Th., and I am currently living and working in Ho Chi Minh City. At the moment, I am working on several projects related to international payments. However, to be honest, I know nothing about this field because my background is in construction. I have been struggling quite a bit with international trade … Read More
INVOICE NOT CERTIFYING WHAT HAS NOT BEEN SHIPPED QUESTION Dear Sir, LC allows both AIR and SEA shipment. Amount: USD 100,000 Shipment by AIR: USD 40,000 Shipment by SEA: USD 60,000 43P: Partial Shipments: ALLOWED 43T: Transshipments: ALLOWED LC Clause states “INVOICE MUST CERTIFY THAT THE MERCHANDISE ARE IN ACCORDANCE WITH PROFORMA INVOICE NO. XXX DATE XXX FOR USD 40,000.00 AND PROFORMA INVOICE NO. YYY DATED YYY FOR … Read More
WHAT IS THE IMPACT OF EXCLUSION OF UCP 600 SUB-ARTICLE 12b? QUESTION Dear Mr. Old Man, I hope my email finds you doing well I would ask you if the issuing bank wish to exclude article 12 b by credit what is the impact and scenario in this case. Thanks for your reply in advance Regards Firas —- ANSWER Hi, UCP 600 Sub-article 12(b) states that when an issuing bank nominates … Read More
IS THE NOMINATED BANK REQUIRED TO VERIFY WHETHER THE BENEFICIARY HAS AUTHORIZED THE PRESENTING BANK TO PRESENT THE DOCUMENTS? QUESTION Dear Mr. Old Man, I hope you’re doing well. Could you please help clarify the following questions regarding the LC collection procedure between the beneficiary and the presenting bank? Is the beneficiary required to complete any authorization process with the presenting bank when instructing them to forward documents to the issuing bank for payment or to the nominated bank … Read More
CAN THE ISUING BANK CITE “LATE PRESENTATION” AS A DISCREPANCY SOLELY BASED ON THE DATE OF THE COVER LETTER? QUESTION Dear Mr. Old Man, We would appreciate your guidance on the following matter: The L/C requires documents to be presented within 15 days after the Bill of Lading date, but the last permitted date for presentation falls on a Sunday. The negotiating bank’s cover letter, which certifies compliance with the L/C terms, is dated on the following Monday. Would … Read More
RETURN OF DOCUMENTS (rev) QUESTION Dear Mr. Old Man, We seek your advice regarding a case involving document discrepancies. As the issuing bank, we have received a set of documents in which all originals of the insurance certificates are not endorsed in blank as required. The applicant has informed us that the beneficiary has agreed to replace these discrepant insurance certificates and has requested … Read More
TRẢI NGHIỆM XE BUS ĐÀ NẴNG-HỘI AN & TIẾNG MỸ BỒI Lần đầu tiên, Mr. Old Man đi xe bus từ Đà Nẵng đến Hội An và ngược lại, mang theo chiếc xe đạp gấp 3 Sixty. Đó một trải nghiệm thú vị và đáng nhớ: Mr. Old Man đạp xe ra trạm xe bus gần nhà và chờ ở đó chừng 20 phút là lên xe bus, suốt hành trình … Read More
UNDERSTANDING SERVICES LETTER OF CREDIT (LC) QUESTION Dear Sir, Could you help me understand the concept of a Services Letter of Credit? I would also appreciate it if you could provide a draft of a Services LC. Looking forward to your assistance. Best regards, Jawad Askari Bank Pakistan —– ANSWER Hi, A Services Letter of Credit (LC) is issued to guarantee payment for services rendered … Read More
CAN A BANK ISSUE AN LC FOR AN AMOUNT LESS THAN THE PROFORMA INVOICE? QUESTION Dear Sir, This is Jawad from Askari Bank, Pakistan. I would like to confirm whether a bank can issue a Letter of Credit (LC) for an amount lower than the proforma invoice amount. For example, if the proforma invoice amount is USD 100, can the applicant request an LC for only USD 45? Additionally, if the applicant later requests … Read More
Mr Old Man WHEN A BILL OF LADING MUST INDICATE ACTUAL PORT OF DISCHARGE QUESTION Dear Sir, My letter of credit (LC) specifies the Port of Discharge as “BAHRAIN INTERNATIONAL AIRPORT AND/OR ANY SEAPORT OF BAHRAIN.” For a sea shipment, if we indicate the Port of Discharge a… Read More
IS THE NOMINATED BANK REQUIRED TO VERIFY WHETHER THE BENEFICIARY HAS AUTHORIZED THE PRESENTING BANK TO PRESENT THE DOCUMENTS?
CAN THE ISUING BANK CITE “LATE PRESENTATION” AS A DISCREPANCY SOLELY BASED ON THE DATE OF THE COVER LETTER?
Mr Old Man WHEN A BILL OF LADING MUST INDICATE ACTUAL PORT OF DISCHARGE QUESTION Dear Sir, My letter of credit (LC) specifies the Port of Discharge as “BAHRAIN INTERNATIONAL AIRPORT AND/OR ANY SEAPORT OF BAHRAIN.” For a sea shipment, if we indicate the Port of Discharge a… Read More
IS THE NOMINATED BANK REQUIRED TO VERIFY WHETHER THE BENEFICIARY HAS AUTHORIZED THE PRESENTING BANK TO PRESENT THE DOCUMENTS?
CAN THE ISUING BANK CITE “LATE PRESENTATION” AS A DISCREPANCY SOLELY BASED ON THE DATE OF THE COVER LETTER?
Mr Old Man WHEN A BILL OF LADING MUST INDICATE ACTUAL PORT OF DISCHARGE QUESTION Dear Sir, My letter of credit (LC) specifies the Port of Discharge as “BAHRAIN INTERNATIONAL AIRPORT AND/OR ANY SEAPORT OF BAHRAIN.” For a sea shipment, if we indicate the Port of Discharge a… Read More
IS THE NOMINATED BANK REQUIRED TO VERIFY WHETHER THE BENEFICIARY HAS AUTHORIZED THE PRESENTING BANK TO PRESENT THE DOCUMENTS?
CAN THE ISUING BANK CITE “LATE PRESENTATION” AS A DISCREPANCY SOLELY BASED ON THE DATE OF THE COVER LETTER?
Mr Old Man WHEN A BILL OF LADING MUST INDICATE ACTUAL PORT OF DISCHARGE QUESTION Dear Sir, My letter of credit (LC) specifies the Port of Discharge as “BAHRAIN INTERNATIONAL AIRPORT AND/OR ANY SEAPORT OF BAHRAIN.” For a sea shipment, if we indicate the Port of Discharge a… Read More
IS THE NOMINATED BANK REQUIRED TO VERIFY WHETHER THE BENEFICIARY HAS AUTHORIZED THE PRESENTING BANK TO PRESENT THE DOCUMENTS?
CAN THE ISUING BANK CITE “LATE PRESENTATION” AS A DISCREPANCY SOLELY BASED ON THE DATE OF THE COVER LETTER?
WHEN A BILL OF LADING MUST INDICATE ACTUAL PORT OF DISCHARGE 20 Mar 2025 QUESTION Dear Sir, My letter of credit (LC) specifies the Port of Discharge as “BAHRAIN INTERNATIONAL AIRPORT AND/OR ANY SEAPORT OF BAHRAIN.” For a sea shipment, if we indicate the Port of Discharge as “Bahrain Seaport of Bahrain” or “Bahrain, Bahrain” on the bill of lading, would either of these be considered a discrepancy? Additionally, could you please provide the …
POTENTIAL FRAUD IN SCRAP METAL TRADE: A RISKY DEAL? 20 Mar 2025 QUESTION Dear Mr. Old Man, My name is Th., and I am currently living and working in Ho Chi Minh City. At the moment, I am working on several projects related to international payments. However, to be honest, I know nothing about this field because my background is in construction. I have been struggling quite a bit with international trade …
INVOICE NOT CERTIFYING WHAT HAS NOT BEEN SHIPPED 18 Mar 2025 QUESTION Dear Sir, LC allows both AIR and SEA shipment. Amount: USD 100,000 Shipment by AIR: USD 40,000 Shipment by SEA: USD 60,000 43P: Partial Shipments: ALLOWED 43T: Transshipments: ALLOWED LC Clause states “INVOICE MUST CERTIFY THAT THE MERCHANDISE ARE IN ACCORDANCE WITH PROFORMA INVOICE NO. XXX DATE XXX FOR USD 40,000.00 AND PROFORMA INVOICE NO. YYY DATED YYY FOR …
WHAT IS THE IMPACT OF EXCLUSION OF UCP 600 SUB-ARTICLE 12b? 17 Mar 2025 QUESTION Dear Mr. Old Man, I hope my email finds you doing well I would ask you if the issuing bank wish to exclude article 12 b by credit what is the impact and scenario in this case. Thanks for your reply in advance Regards Firas —- ANSWER Hi, UCP 600 Sub-article 12(b) states that when an issuing bank nominates …
IS THE NOMINATED BANK REQUIRED TO VERIFY WHETHER THE BENEFICIARY HAS AUTHORIZED THE PRESENTING BANK TO PRESENT THE DOCUMENTS? 16 Mar 2025 QUESTION Dear Mr. Old Man, I hope you’re doing well. Could you please help clarify the following questions regarding the LC collection procedure between the beneficiary and the presenting bank? Is the beneficiary required to complete any authorization process with the presenting bank when instructing them to forward documents to the issuing bank for payment or to the nominated bank …
CAN THE ISUING BANK CITE “LATE PRESENTATION” AS A DISCREPANCY SOLELY BASED ON THE DATE OF THE COVER LETTER? 16 Mar 2025 QUESTION Dear Mr. Old Man, We would appreciate your guidance on the following matter: The L/C requires documents to be presented within 15 days after the Bill of Lading date, but the last permitted date for presentation falls on a Sunday. The negotiating bank’s cover letter, which certifies compliance with the L/C terms, is dated on the following Monday. Would …
RETURN OF DOCUMENTS (rev) 15 Mar 2025 QUESTION Dear Mr. Old Man, We seek your advice regarding a case involving document discrepancies. As the issuing bank, we have received a set of documents in which all originals of the insurance certificates are not endorsed in blank as required. The applicant has informed us that the beneficiary has agreed to replace these discrepant insurance certificates and has requested …
TRẢI NGHIỆM XE BUS ĐÀ NẴNG-HỘI AN & TIẾNG MỸ BỒI 13 Mar 2025 Lần đầu tiên, Mr. Old Man đi xe bus từ Đà Nẵng đến Hội An và ngược lại, mang theo chiếc xe đạp gấp 3 Sixty. Đó một trải nghiệm thú vị và đáng nhớ: Mr. Old Man đạp xe ra trạm xe bus gần nhà và chờ ở đó chừng 20 phút là lên xe bus, suốt hành trình …
UNDERSTANDING SERVICES LETTER OF CREDIT (LC) 12 Mar 2025 QUESTION Dear Sir, Could you help me understand the concept of a Services Letter of Credit? I would also appreciate it if you could provide a draft of a Services LC. Looking forward to your assistance. Best regards, Jawad Askari Bank Pakistan —– ANSWER Hi, A Services Letter of Credit (LC) is issued to guarantee payment for services rendered …
CAN A BANK ISSUE AN LC FOR AN AMOUNT LESS THAN THE PROFORMA INVOICE? 10 Mar 2025 QUESTION Dear Sir, This is Jawad from Askari Bank, Pakistan. I would like to confirm whether a bank can issue a Letter of Credit (LC) for an amount lower than the proforma invoice amount. For example, if the proforma invoice amount is USD 100, can the applicant request an LC for only USD 45? Additionally, if the applicant later requests …
IS THE NOMINATED BANK REQUIRED TO VERIFY WHETHER THE BENEFICIARY HAS AUTHORIZED THE PRESENTING BANK TO PRESENT THE DOCUMENTS?
CAN THE ISUING BANK CITE “LATE PRESENTATION” AS A DISCREPANCY SOLELY BASED ON THE DATE OF THE COVER LETTER?
Mr Old Man WHEN A BILL OF LADING MUST INDICATE ACTUAL PORT OF DISCHARGE QUESTION Dear Sir, My letter of credit (LC) specifies the Port of Discharge as “BAHRAIN INTERNATIONAL AIRPORT AND/OR ANY SEAPORT OF BAHRAIN.” For a sea shipment, if we indicate the Port of Discharge a… Read More
IS THE NOMINATED BANK REQUIRED TO VERIFY WHETHER THE BENEFICIARY HAS AUTHORIZED THE PRESENTING BANK TO PRESENT THE DOCUMENTS?
CAN THE ISUING BANK CITE “LATE PRESENTATION” AS A DISCREPANCY SOLELY BASED ON THE DATE OF THE COVER LETTER?
Mr Old Man WHEN A BILL OF LADING MUST INDICATE ACTUAL PORT OF DISCHARGE QUESTION Dear Sir, My letter of credit (LC) specifies the Port of Discharge as “BAHRAIN INTERNATIONAL AIRPORT AND/OR ANY SEAPORT OF BAHRAIN.” For a sea shipment, if we indicate the Port of Discharge a… Read More
IS THE NOMINATED BANK REQUIRED TO VERIFY WHETHER THE BENEFICIARY HAS AUTHORIZED THE PRESENTING BANK TO PRESENT THE DOCUMENTS?
CAN THE ISUING BANK CITE “LATE PRESENTATION” AS A DISCREPANCY SOLELY BASED ON THE DATE OF THE COVER LETTER?