Search found 14 matches

by yenfongmoo
Sun Jun 03, 2001 1:00 am
Forum: General
Topic: Beneficiary's certificate Vs Beneficiary's declaration
Replies: 2
Views: 1993

Beneficiary's certificate Vs Beneficiary's declaration

Credit required a bene's cert while a doc titled a bene's declaration is presented. Is this acceptable?

Msg to PGauntlett: Thanks for yr comments on my enquiries
by yenfongmoo
Sun Jun 03, 2001 1:00 am
Forum: General
Topic: Docs Received fr Presenting Bank subject to URC 522
Replies: 5
Views: 3173

Docs Received fr Presenting Bank subject to URC 522

Docs were sent to us,the issuing bank, fr the bene's bank in Japan. Their instructions were very clear that as per bene's request, the docs are to be processed on a collection basis s.t. URC 522. Doc are usually in order. How should we treat it when a)docs are in full compliance i.e should we still ...
by yenfongmoo
Sat Jun 02, 2001 1:00 am
Forum: General
Topic: Beneficiary's address omitting country
Replies: 4
Views: 2716

Beneficiary's address omitting country

Credit has given the full address & country of bene. Docs presented e.g.invoices only listed the bene's address but omitted the country
Is it a discrepancy?
by yenfongmoo
Sat Jun 02, 2001 1:00 am
Forum: General
Topic: Incoterm C&F
Replies: 3
Views: 2509

Incoterm C&F

LC specified incoterm C&F. Bene's invoices quoted CFR ...is this acceptable?
by yenfongmoo
Wed May 30, 2001 1:00 am
Forum: General
Topic: Credit involving Malaysian sawn timber
Replies: 2
Views: 1924

Credit involving Malaysian sawn timber

LC value is given as USD200,000. No qty/volume is mentioned in the LC under the goods description of Malaysian sawn timber. Partial shipment is allowed & no tolerance is mentioned.Docs are presented just prior to the expiry date (i.e. the latest date allowed for presentation) for an invoice valu...
by yenfongmoo
Wed May 30, 2001 1:00 am
Forum: General
Topic: Malaysian sawn timber
Replies: 2
Views: 1988

Malaysian sawn timber

LC value is USD19,000. Description in credit is "About 33 M3 (About 500 pieces) of Merbau Tokobashira sawn timber". Partial shipment is allowed. Docs presented gave an invoice value of USD18,468.57 for 24.12 M3 (500 pieces)of Merbau Tokobashira sawn timber.
Is there a discrepancy?
by yenfongmoo
Wed May 30, 2001 1:00 am
Forum: General
Topic: Need to check conversion of volume of goods?
Replies: 1
Views: 1373

Need to check conversion of volume of goods?

Is there a need for the bank to check on the accuracy of the conversion of the volume of goods e.g. in the packing lists/log lists for sawn timber, we often receive the following details:- Pieces/Length..Total Bundles..Meter Run..Total tons Is the bank supposed to verify how the figure under Meter R...
by yenfongmoo
Tue May 29, 2001 1:00 am
Forum: General
Topic: Credit requires BL to be made out to the order of the issuin
Replies: 4
Views: 2668

Credit requires BL to be made out to the order of the issuin

In reply to Mr TO Lee's earlier enquiry, Party A is the issuing bank (as mentioned in the topic heading). Credit requires BL to be made out to order of the issuing bank but actual BL presented showed it is made out to another bank B. On the reverse of the BL, B has endorsed it to the beneficiary X w...
by yenfongmoo
Tue May 29, 2001 1:00 am
Forum: UCP 500
Topic: Transferable Credit
Replies: 6
Views: 3437

Transferable Credit

Msg to Mr TO Lee-Thanks for yr advice. Does it mean that the transferring bank A is only required to check docs if it the credit is restricted to A.In the event A is merely the authorised transferring bank in a freely negotiable LC, is it under any obligation to reject docs.No, I have not had the pr...
by yenfongmoo
Tue May 29, 2001 1:00 am
Forum: General
Topic: Date of Phytosanitary Certificate
Replies: 1
Views: 1475

Date of Phytosanitary Certificate

A phytosanitary certificate is called for under a credit involving timber shipment fr Malaysia. Is it a must that the certificate should be dated before the BL date?