Uncategorized THE NAME OF THE COUNTRY NEED NOT BE STATED By Mr Old Man Posted on September 11, 2013 1 min read 10 0 5,761 Share on Facebook Share on Twitter Share on Google+ Share on Reddit Share on Pinterest Share on Linkedin Share on Tumblr QUESTION Dear Mr. Old Man, I have a question that needs your help. LC stipulates:44E: SHANGHAI PORT, CHINA44F: HAIPHONG PORT, VIETNAM BL presented shows:PORT OF LOADING: SHANGHAIPORT OF DISCHARGE: HAIPHONG Is it a discrepancy? Thanks and best regards,TH—— ANSWER Hi, There is no discrepancy. When a credit indicates the port of loading by also stating the country in which the port is located, the name of the country need not be stated. Similarly, When a credit indicates the port of discharge by also stating the country in which the port is located, the name of the country need not be stated. Please refer to paragraphs E6 (f) and E9 of ISBP 745. Kind regards,Mr. Old Man
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?
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?