It is our standard requirement to call for the marine insurance policy to be blank endorsed. I noted credits from some other banks overseas merely calls for the insurance policy without stipulating for the policy to be blank endorsed. I would appreciate if you could advise which is the correct requi...

We have negotiated docs in which a credit called for commercial invoices. Beneficiary presented a set of sales invoices. Issuing bank treated it as a discrepancy advising that commercial & not sales invoices are called for. Subsequently applicant accepted the alleged discrepancy & the bill w...

We have received an LC with the latest shipment date on 1 June 01. Credit was issued on 26 June 01. The expiry date is given to be 30 July 01. No further special condition were given such as 'Late presentation of doc within the validity of the credit' are acceptable. Is it allowed to issue this kind...

The credit merely asked for a certificate of origin. No further details were stipulated.

The first shipment actually took place from Osaka so it looks alright. But the second shipment

was from Nagoya,Japan which left me wondering as to whether the cert of origin issued fr Osaka is OK?

Credit calls for shipment from any Japanese Port to Kota Kinabalu,Malaysia. BL presented indicated Port of Loading to be Nagoya,Japan. Certificate of Origin was issued by The Osaka Foreign Trade Association. Not knowing how far Osaka & Nagoya is from each other could this Cert of Origin be accep...

Credit required an on-board ocean BL evidencing shipment fr Daegu to Port Klang. In the preprinted box the port of loading is given to be Busan Korea. In the centre of the BL just beneath the description of goods the following is shown:- -loading in charge: Daegu -specific port of loading: Busan Is ...

Credit wrongly gave beneficiary's address as XXX,Sandkan while we know the correct address would be XXX,Sandakan. Beneficiary's documents have reached our counters for negotiation. We thought of asking the beneficiary to amend their correctly spelled address to match that of the LC. Would that a wis...

I was given to understand that the often-used clauses seen in other banks' Back to Back/transferable LCs such as 'Third party docs acceptable' & 'Stale BLs acceptable'' is frowned upon by the ICC. Is the clause 'Late presentation of documents allowed' acceptable? Are there any alternative clause...

Master credit issued by bank A required 'Full set of original clean on board ocean Bill of Lading issued to the order of the issuing bank marked freight prepaid & notify applicant' As the beneficiary's bank, B, we have been asked to issue a Back to Back LC to the ultimate supplier. We are advise...

We issued a credit for MYR150, 000 covering import of shrimp feed with partial shipment prohibited. On 20 June 01, we received a set of documents, including a full set of marine BL, for an invoice amount of MYR80, 000. We treated it as a partial shipment & accordingly on the same day advised dis...