I believe the LC is coming from an Asian Bank. If that is the case, “Seal” usually means a “Stamp (Chop)/signature” in Asia. I have seen AWB (from Korea) stamped “on board” with flight date, flight number and Korean characters (look like a signature). Nevertheless, I will go back to the issuer for c...

Dear Antoine, It depends how the LC was structured (availability and place of expiry, etc.) My question is how we interpreted “payable against a claim by SWIFT”, is such claim considered a “presentation”? (Don’t go beyond UCP by looking at ISP98 or e-UCP). I believe it is a controversial issue. Rega...

Issuing bank is 100% liable for effecting (partial/short) payment without consent of the presenter in this case. The only choice (as Jeremy stated) is either to honor the discrepant documents (full amount of the draw according to the remitting schedule and the draft, if any) or to reject the present...

Full set clean on board bills of lading consigned to order of shipper blank endorsed and notify xxxx. (all bills of lading were blank endorsed by the shipper)

Need your opinion on the following
B/L presented on its face are perfect (marked "Original"), however, at the back of the B/L indicates in bolt letters (first line on top of the conditions)"Non-Negotiable Bill of Lading". Is this B/L acceptable?

Don, It is not very common for bank that issue its own credit, however, there were cases that involve surety requirement for workers Comp or local government agent that accepted only surety bond, bank has no choice to issue its own credit to insurance company (bond issuer) as security for bond issua...

We all agree it is not discrepant. How about if the LC covering an intangible property, i.e., data system, copy right of motion movie, etc. and the LC requires "Date of Production". Do we have a different answer?

We all understand that a confirmer is replacing the rights and obligations of the issuer (act as an issuer) and is directly obligated to “honor” (not to negotiate) a presentation under a letter of credit. I believe the whole issue was created by article 2 that definition of “Confirmation” also refer...

Jeremy, Thanks; technically I agree with your comment, however, the reality was that I “ate” the consequence of accepting a similar presentation some time ago. (My case was Port of discharge Los Angeles with final destination Mexico City). [Above case in question could be port of discharge Singapore...

Jeremy, CPT interpretation under Incoterms 2000 reads (part) “the seller delivers the goods to the carrier nominated by him but the seller must in addition pay the cost of carriage necessary to bring the goods to the named destination” I agree with your comment on “freight prepaid” concept under “CI...