May I kindly request your opinion on a discrepancy raised by an issuing bank. The letter of credit called for "copy/photocopy of a valid ISM certificate (safety management Cert) showing ISM code no and year of built of the vessel" Benefiary presented this document which indicated that it h...

I thank you gentlemen. However for the sake of clarity I should point out that the documents have been issued by the supplier on their letterhead and duly signed but contained a phrase (as per LC terms) that the Shipper/consignor/Exporter reads "Supplier X for and on behalf of Ben Y". I am...

Thanks Jeremy. So : 1)C.O.O stands for Country of Origin. 2)Documents are Health and Free Sale certificate under master LC and the b/b lc had a special condition requesting same applicable to all documents. 3)Supplier is different from beneficiary. 4) The issue of "competent authority" in ...

May I kindly solicit your expert opinion on a technical issue. A letter of credit calls for two documents to be "issued and signed by the competent authorities in the C.O.O". The relative documents were presented duly issued by the supplier but bearing a clause affirming that "shipper...

Customer has submitted a blank back bill of lading having the following statement on the front of the document "XYZ Ltd Operates under its Standard Trading Conditions, which are available on request". We would accept such a BL within the context of Art 20A v but we had rejections in the pa...

I thank you both but, frankly, I am more perplexed on the issue. The UCP article 38g merely states that the percentage for which insurance cover "may" be increased implying, in my opinion, that the first benefiary and the transferring bank can choose either option without prejudicing the e...

A transferable LC calls for an insurance certificate for 110% of the invoice value. It is transferred thus with not changes in the percentage as allowed by article 38G. Assuming presentation of transferred LC is in order the insured amount would not tally with that of the exchanged invoice and value...

A confirming bank checks a presentation under UCP600and finds discrepancies which they relay to the issuing bank requesting authority to accept. The latter accepts after obtaiing applicants authority. Subsequently the issuing bank notes other discrepancies. Does it only reject the additional discrep...

A letter of credit calls of a " packing list included qaulity, quantity and packing". Signed PL was submitted with a certification that quallty & quantity of goods are as per proforma....... as detailed in field 45A of the LC. The confirming bank raised a discrepancy "PL not showi...

A letter of credit is issued by bank A and duly confirmed by bank B. As designated in the credit it is subsequently advised through bank C with a special condition that the advising bank C can discount the bill of exchange. The letter of credit is available by acceptance of a draft drawn on the conf...