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Home Tag Archives: Overdrawn

Tag Archives: Overdrawn

Is $0.01 Overdrawn a Discrepancy?

By Mr Old Man
August 25, 2025
in :  Mr Old Man, Payment, Q&A
0
147

Intro In trade finance, documentary checks often come down to decimals. A difference of just 0.01 in the presented invoice total versus the LC amount may seem trivial, but banks operate under strict rules of compliance. The following Q&A looks at whether such a minor discrepancy should be considered a valid discrepancy under UCP 600 and banking practice. QUESTION Dear …

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SHIPPING GUARANTEES AND OVERDRAWN DISCREPANCY

By Mr Old Man
March 1, 2024
in :  Mr Old Man, Payment, Q&A
0
922

QUESTION Dear Mr. Old Man, Please give your comments for the below case: At the request and for account of the applicant, we issued an LC for an amount not exceeding USD 500,000. As the cargo had arrived before the documents were presented to our bank, at the request of the applicant we issued a shipping guarantee in favour of …

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Singapore áp dụng Quy tắc 24 giờ chuyển khoản nhằm hạn chế rủi ro lừa đảo trực tuyến

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Mr Old Man: Dear Kathryn, Thank you for your interesting question. First, banks do not conce...

Kathryn: Dear Mr. Old Man, May I seek your opinion on the following scenario? If goods ar...

Bill: And know your customer....

Mr Old Man: Thank you so much for your kind words. Rup...

Monkey Mountain Challenge 2025 negotiation Documents lost in transit On board notation Amendment Revolving LC SBLC non-documentary conditions CPBL Insurance Court Injunction DRAFTS Late presentation any chinese port beneficiarys-name expiry-date lc-expired place-of-expiry lc-availability Where the applicant goes bankrupt Where 1/3 BL is to be sent directly to the issuing Insurance document Disposal of docs Surrendered bill of lading invoice

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Timeline

  • March 16, 2010

    TWO SEPARATE DOCUMENTS PRESENTED INSTEAD OF ONE AS REQUIRED

  • November 30, 2018

    WARRANTED NO KNOWN OR REPORTED LOSSES (WNKORL)

  • March 8, 2010

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Top Tags Monkey Mountain Challenge 2025 any chinese port On board notation negotiation Late presentation Court Injunction CPBL non-documentary conditions Amendment DRAFTS SBLC Insurance Revolving LC Surrendered bill of lading Documents lost in transit
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