Dear all; I would like to have your opinion regarding documentary credits covering the shipment of oil and allowing the presentation of LOI and telex/copy/fax/original commercial invoice in the absence of shipping documents required by the documentary credit. We confirmed a documentary credit with t...

Hi;
The answer ise "yes", Saudi Arabian Banks avalise the drafts.
Regards.

Dear Antoine; Since the advising bank has the right to utilize the services of another bank to advise a credit and any amendments thereto, then the advising bank is liable for the charges incurred by the second advising bank as per sub-art. 37-c of UCP 600. Please also note that sub-artc. 37-c does ...

Dear Albert;

Inspection Certificate is discrepant, since it does not fulfill its funtion by clearly indicating that "the inspection of goods was not performed".

Regards.

Zeynep

If the nominated bank is also a confirming bank, then what is the position of this bank in case of presentation of discrepant documents? In order to be more clear, if the confirming (nominated) bank sends docs to the issuing bank on approval basis, does this bank still have the right to discount wit...

Dear all; I would like to get your opinion regarding the discount of proceeds under deferred payment and acceptance L/Cs. If the nominated bank does not act on its nomination and just examines and sends the documents to the issuing bank, then does the nominated bank still have the right to discount ...

Dear all I would like to get your opinion regarding the below mentioned issue: Art. 13-a of UCP 500 states that documents not stipulated in the credit will not be examined by banks and if banks receive such documents they shall return them to the presenter or pass them without responsibility. Wherea...

Dear all, I would like to get your opinion regarding the comparsion of UCP 500 and UCP 600 in terms of non-documentary conditions. Is there any strict difference between art.13-c of UCP 500 and art. 14-h of UCP 600. In order to state more clearly, as we think about the official ICC opinon no:R-212 1...

Thank you. DOCDEX NO 238 also clarifies my querry.

Most of the petroleum letter of credits include l/c terms such as: QUOTE 39A ) 10/10 45A ) Covering 45,000 MT +/- 10 pct Price: In US Dollars per metric ton FOB one safe port, one safe Berth Aliaga on bill of lading quantity, based on the platts European Marketscan mean quotations for 3.5 pct fuel o...