SS & DD - The very first sentence in ISBP 20 states "Copies of transport documents are not transport documents for the purpose of UCP 600 articles 19-25 and sub-article 14(c)."

Yes indeed. Thanks Jeremy

SBLC subject to UCP600 requires presentation of "PHOTOCOPY OF THE FRONT AND BACK OF ORIGINAL CLEAN ON BOARD BILLS OF LADING ISSUED OR ENDORSED TO THE ORDER OF [issuing bank], FAX COPY ACCEPTABLE". Copy of front and back of Charter Party BL is presented, meeting all the criteria of the abov...

"Confirming bank's argument is, that "only" if the carrier requires, an Original Bill of Lading must be surrendered, "if not, a copy may be acceptable" " I just love the way some banks decide for themselves the meaning of what's not said. The BL doesn't say a copy may b...

I will reply as a regular beneficiary of LCs. In reply to Jeremy - the rules governing a confirmation are clearly laid out in UCP and I know exactly where I stand if I have the LC confirmed. If the LC is not confirmed, there is no bank that will negotiate without recourse without having a seperate &...

I am not so sure. The previous answers assume that the gross value is $11k but I can see no justification for this. What is the definition of gross value in UCP or the LC? There is certainly no such definition in UCP and I doubt very much there is one in the LC either. What if the bene revises their...

See UCP600 Article 17d. "If a credit requires presentation of copies of documents, presentation of either originals or copies is permitted" Also, Article 14g states "A document presented but not required by the credit will be disregarded and may be returned to the presenter" Ther...

I would agree that the exclusion is not well worded but taken as a whole sentence, the exclusion of the 2 sub-articles together must surely be linked and it must therefore surely be assumed that the intention is to prohibit prepayment. Referring to Gabriel’s question, it should never be assumed that...

Depends who chartered the vessel and the terms of the various contracts. It's likely that the charterer owned the full cargo and sold off portions while the vessel was afloat, in which case the new owners are entitled to full quantity (vessel will discharge exact quantity) and seller/charterer bears...

Hi Gabriel,

Do you mean withholding tax on interest charged?

If the local law requires that it must be deducted then no clause in UCP or in the LC can override that law.

I had this problem once with India deducting withholding tax.