Prepayment, Fraud Risk and Article 12 — Where Does the Risk Lie? Discussions around the possible revision of UCP 600 often bring out interesting practical concerns. One of them, raised recently by a colleague, goes straight to the heart of risk allocation in documentary credits: If a nominated bank prepays or discounts under a credit, and fraud is discovered later, who ultimately bears the risk? A fair question — and not an … Read More
NGHE MÙI LỪA ĐẢO QUESTION Chào anh Đức Tôi đang có giao dịch chuyển tiền từ Đức thông qua cổng MT103 đã về tới ngân hàng Việt Nam nhưng không tháo xuống được (xem 2 bản sao MT103). Anh thông thạo về quy trình xử lý này hỗ trợ giúp tôi hoặc biết đơn vị nào có cổng xử lý thành công rồi giới … Read More
FRAUD Mr. Old Man exchanging views with Armagedo and Frammi on a fraud case on www.letterofcreditforum.com FROM MR. OLD MAN Dear members, As a frequent writer for banking magazines in Vietnam, I sometimes receive from local banks queries on international payment operations. Here below is one of the queries and my opinion that I wish to share with you and look … Read More