N.H. Duc and Daniel, Thank you. You both bring up valid points that I wish to address. N.H. Duc - You asked if my bank would be able to handle a document in Chinese or Vietnamese, and the answer is yes. I work for one of the largest international banks in the world, and even if we do not have people...

I have two different, but similar scenarios: 1. LC is issued in English and does not specify the language of the documents. A required document is presented in a language other than English. ISBP Paragraph 23 may or may not be relevant, as the document may or may not be issued by the beneficiary. Do...

The instruction does NOT say "whichever occurs first". You are simply making that assumption.

Not sure if this helps or not, but in "The Comparison of UCP600 & UCP500" by Professor James E. Byrne, it states: "UCP600 Article 20 combines UCP500 Article 23(a)(ii) paragraph 4, regarding requirements for when a bill of lading indicates 'a place of receipt or taking in charge di...

This query partly involves U.S. law, but please don't be put off by that as I am hoping for a "common sense" approach. An article in July/August 2006 issue of DCW was about the use of the words "successors" and "assigns" in a transferable lease standby subject to UCP 50...

To answer the first question, "other party" can mean a freight forwarder, a document preparation company, a financial institution other than a bank, an attorney.....basically any party who the beneficiary has authorized to act as their agent for the purpose of presenting documents.

Wow, that's a good question. A CMR is definitely NOT a B/L as it does not meet the same requirements of what constitutes a B/L. But thankfully, I did not have to deal with that question in real life. I just wanted to report, though, that we just received the funds from the confirming bank, so the ar...

We are the presenting bank on a draw under a standby credit subject to UCP 500. The credit requires "Copy of B/L." The credit also listed ports in fields 44A and 44B. A copy of a charter party B/L was presented. The confirming bank is refusing the draw because a copy of a charter party B/L...

Anna, I think sub-Article 39(c) is actually more relevant here than 39(b). Neither you or the issuing bank can determine if a partial shipment even took place because the quantity of goods was not indicated in the LC. What you CAN determine, however, is that this is a partial DRAW, which is fine if ...

Now Jeremy, think positive. Maybe it won't be so bad. I think a lot depends on how we approach the new rules. I am hopeful that if we continue to use common sense that these rules can be used effectively. And if that fails, we can all go around singing "Always Look on the Bright Side of Life&qu...