Happy New Year to all! Under UCP 600 Article 6 d ii “The PLACE OF THE BANK with which the credit is available is the PLACE FOR PRESENTATION”. Under a freely negotiable L/C. the place for presentation will be the negotiating bank address. If Bank A negotiates the documents, then its bank address will...

UCP Art 48d - 1st beneficiary may retain his right not to forward amendment to 2nd beneficiary. ICC opinion 485 - "If a request is received to cancel the original credit or a reduction in the value that would affect the value of a transferred credit, no agreement of the first beneficiary can be...

Yahya, My understanding is that para 89 is referring to partial shipment. Assuming all shipments are made under one vessel with different shipment dates, then the latest shipment date should be used to calculate the presentation period. If shipments are made under several vessels, that will consider...

When advising bank confirms a L/C, does its confirmation extend to the transferred L/C? Does it extend to the 2nd beneficiary as well? If it is fully transfer, it seems to make sense that the confirmation is automatically extended. Under partial transfer, certain terms and conditions have been alter...

L/C does not specify the format. I consider 'Country of Origin' is different from 'Manufactured place'. Especially when one can't tell whether the godos are wholly manufactured in one place. Am I right on this? Presenting bank argued that per UCP Art. 21, L/C does not specify the details, banks shou...

Paragraph 196 of ISBP states that one of the basic requirements for a Certificate of Origin is to certify the origin of the goods. We received a C/O only states "Manufactured by ABC Company in XYZ country" Does it fulfill the requirement? We've seen C/O stating "manufactured by Compan...

As an issuing bank, we quoted discrepancy according to ISBP. The negotiating bank in Armenia stating that our L/C is subject to UCP but not ISBP. We responsed to them that ISBP is referring to 'the international standard banking practice' mentioned under UCP Article 13a. Is my argument strong enough...

L/C requires Insurance Policies in duplicate... blank endorsed.
Do you require the 'duplicate' insurance policy to be endorsed?

What if L/C requires Insurance Policy in 1 original and 2 copies? Does the copies need to be endorsed as well?

According to UCP, duplicate means one original an one copy.