Hi, Under international banking practice, it is expected that an invoice will include the name and the address of the beneficiary. However, there is no requirement in UCP 600 for the address of the beneficiary to appear in an invoice. Therefore, an invoice that shows the name of the beneficiary as t...

Hi, I think sub-article 12 (a) can help answer your question. A nominated bank is not obliged to act on its nomination, i.e., to honour or negotiate unless (i) it has added its confirmation to the L/C, or (ii) it has communicated to the beneficiary that it agrees to act on its nomination. The reason...

Hi,

As far as I know, there will be no revision to UCP 600 at this time.

Kind regards,
N.H. Duc

Hi,

I don't think such a clause makes the b/l discrepant.

Kind regards,
N.H. Duc

Hi,

Just raise the discrepancy, e.g., “bill of lading: photocopy presented as opposed to the original”

Happy New Yearly yours,

N.H. Duc

Hi, Please find attached below an excerpt from ISP98’s foreword Quote COPYRIGHT Copyright ©1998 The Institute of International Banking Law and Practice, Inc. All rights reserved. No part of this work may be reproduced or copied, in any form or by any means - graphic, electronic or mechanical, includ...

Hi, Not sure if the below answer covers your question. There’s no risk for the transferring bank as it just gives a conditional payment undertaking that it will pay only after receipt of the proceeds under the original L/C. That is to say, so long as it has not received the proceeds, it will not pay...

Hi,

Unless the transferring bank is the confirming bank, the transferred L/C would contain the following clause or a clause of similar effect: “We shall pay only when we receive funds from the issuing bank under the original L/C”.

Kind regards,
N.H. Duc