I would like to say a big Thank you to Mr T.O Lee , AbdulkaderB, Jsmith P Gauntlett & the rest of the regular contirbutors for your highly enlightening & useful comments not just on my queries. I would like to add to my previous posting that in addition to the belowmentioned paragraph,i.e. '...

I would like to know whether it is a good practice for issuing banks to advise details of any discrepancies they discovered despite the fact that their applicant may have accepted them. This would help the negotiating bank in determining the alleged discrepancy/ies as well as to avoid a situation wh...

Insurance policy is required under the credit to be blank endorsed. Beneficiary chose to sign it on the face instead of on the reverse of the policy.

Are we correct in insisting the beneficiary to sign it on the reverse?

Thank you for yr advice.

We received a BL which has a paragraph on the top right hand side that read as follows:- 'In witness whereof the undersigned on behalf of ABC Shipping Line Ltd the Master has signed the …' I would like to pose this query i.e. could a company signed as the Master….I was under the impression that the ...

Are drafts always called for under a negotiation credit or to put it in another way, could a bank issue a negotiation credit without calling for drafts? We received a negotiation credit issued in SWIFT format but it was silent on drawee & drafts, hence our enquiry. We are taught that there are a...

Credit allows for transhipment. Is there a need for the Bill of Lading to show the names of the 2 vessels involved in the carriage of the goods? Is it a discrepancy if the BL showed only the name of the Precarrying vessel but silent on the Ocean vessel? I would also be grateful if you could advise u...

Is there a reasonable time for an issuing bank to respond to our enquiry as to the nature of the discrepancy they claimed? We had sent a SWIFT msg to the issuing bank enquiring on the discrepancy fee deducted & the nature of the discrepancy. There was no response for 5 banking days. Then the ben...

I would like to seek yr advice on this problem I came across:- Credit we received has the following clause under documents required: 1. Shipper's certificate certifying that original Health Certificate has been airmailed directly to Accountee within 3 days of shipment. 2. Health Certificate in tripl...

I would be grateful if someone would be kind enough to explain to me Art 23-iii b on intended port of loading and/or port of discharge. E.g. Credit called for a marine BL with shipment from Port Klang to Kobe. 1.BL presented indicated intended port of loading to be Port Klang & port of discharge...

I would welcome your comments on this case of mine. My bank A received an inward collection (not under LC) from a bank in India.Upon examining the documents, the invoice has another bank's address B on it. The drawee is not one of our customers & he seems to be residing in another state, my coll...