once again the problem arises from a poorly opened credit. Personally I would inform the issuing bank (and the beneficiary) that I am requesting clarification and that the credit is not available until I get a satisfactory reply

The UCP clearly stipulates that :i.The insurance document must indicate the amount of insurance coverage and be in the same currency as the credit. Consequently any insurance document would show the currency of the credit (and therefore of any draft). As such, a simple statement that payment would b...

The ICC has often stated that it is not good practice for an issuing bank to simply exclude a specific article of the UCP, stating it is necessary to explicit exactly what "replaces" the exclusion. If not, it leads to confusion, as it does in this case. The issuing bank should simply state...

I can see that no one has replied to your question, probably because it is not all that cut and dried as it might seem. In certain trades, it is customary to provide extra bags free of charge, such as for shipments of cement or sugar. This probably stipulated in the contract, which has unfortunately...

The 3 days refer to the period when any defect or damage is to be noted (recorded) and the "Carrier" is the company who was responsible for the transportation.
This is not an expiry period for making the claim

It depends on where the availability was stipulated in the LG. Usually it's at the counters of the issuer, and consequently the documents/claim must be received there at the latest on the expiry date.

My understanding of this credit is that it is what they are now calling a UPAS credit : Usance Payable at Sight. This new twist to credits has been developed to enable Asian buyers to take advantage of the much lower interest rates available in the West. In such cases the documents are paid at sight...

It depends on the credit terms. If the credit states "Issuing bank commissions are for beneficiaries" of course they can. Most credits have IB charges for Applicant and all other charges for Beneficiary. In that case, I would say that IB should not claim a payment commission.

I would not accept that warranty bond, basing my argument on art.14f. Although the wording of the bond was not given in the L/C terms (once again a poorly opened credit), an expired warranty bond does not, in my mind, "appear to fulfill the function of the required document". However you w...

If I understand the discrepancy the bank tried to raise, they considered that there were only three shipments to be made, each shipment having the required quantities of both A and B. Therefore they consider that the 2nd shipment contained only A (and that B was missing) and that the 3rd shipment co...