Could amendments be routed to a different bank other than the advising bank that originally advised the credit? This could be due to time constraints hence the beneficiary requires amendment to be routed to the bank nearest to them. Would the issuing bank be exposed to any risks in agreeing to the a...

I received a freely available negotiation credit on sight basis from a Japanese bank. The credit did not call for drafts , no drawee was given but a reimbursing bank in New York was mentioned. Credit required all documents to be sent to the issuing bank in Japan. I would like to enquire if it is nec...

Thank you, Mr Lee on your advice to check the data content.

Could I take the issue slightly further & ask if the same applies when one receives an insurance certificate issued under an open cover/policy?

Thank you.

Credit has the following instructions to the negotiating bank:- 'Negotiating bank is to forward documents to us in one mail by overnight courier.' I would be grateful if someone could explain the phrase...I think the issuing bank requires the negotiating bank to despatch the docs the same day/evenin...

In answer to Mr Lee's enquiries, we do not know whether the third party is the ultimate buyer. All we know is that he is not the applicant. The remaining original BL (First Original) is to be presented together with the rest of the docs as called for under the credit to the issuing bank thru the ben...

In response to Mr Lee's query & to rephrase my second para, we as issuing bank are unaware as to whether there is a back-back LC effected by another bank. As far as we are concerned we did not issue a trf LC. Having said that I believe Mr Laurence Bacon has answered the query so my thanks to bot...

Credit in SWIFT format has given a BIC for the drawee(field 42A) as BOFCUS33SFO with no further details.

When the beneficiary presents drafts drawn on the drawee identified merely as BOFCUS33SFO, is it acceptable?

Thank you
[edited 8/7/01 1:12:14 PM]

Our credit asked for a marine cargo insurance covering marine risks as per Institute Cargo Clauses (A)… Marine cargo policy presented merely indicated coverage as per ICCA. Elsewhere on the face of the policy, there is a preprinted clause showing cover as per Institute Cargo Clause (Blank). Is the d...

I would be grateful to hear fr the members on the following:- 1.The invoice presented bears the reference number TTM12-3456 while the drafts & the Packing Lists quoted the invoice reference as TTM12/3456. 2. Spacing omitted in beneficiary's name in LC i.e. actual name of beneficiary is Choice Se...

Credit required beneficiary to send 2nd & 3rd original BL (which are made out to order & blank endorsed) directly to a third party. The remaining 1st original is to be routed through the bank. Now instead of the 1st original being presented, the beneficiary has despatched the 1st & 2nd d...