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
Search found 14 matches
- Sun Jun 03, 2001 1:00 am
- Forum: General
- Topic: Beneficiary's certificate Vs Beneficiary's declaration
- Replies: 2
- Views: 1993
- 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 ...
- 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?
Is it a discrepancy?
- 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?
- 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...
- 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?
Is there a discrepancy?
- 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...
- 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...
- 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...
- 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?