In one of our L/cs we asked for final 5% payment against presentation of "Acceptance form on Bene's L/Head duly sigend by the Bene and Applicant's rep." The Bene presented the PhotoCopy i/o original for payment (and the Original was retained by the Applicant) Is this acceptable for payment...

One of the documents we require under our L.Cs covering sea- shipments, is a Ceritficate from the Shiping Company or its Agents certifying that the carrying vessel (a) is ISM code certified (b) belongs to Conference or Regular Line. Of late we receive messages from banks in Europe - Germany to the e...

Art. 2 UCP 600 defines Presentation to mean either the delivery of documents under a credit to the issuing bank or nominated bank or the documents so delivered. The last part " the documents so deliivered" is not clearly understood. Whether documents by themselves become the act of present...

In 'Received for Shipment' B/Ls, very ofter the "on baord" notation appears in space provided for "Particualrs furnished by shipper" and is not signed or initialled by the Carrier or their agents. Some B/Ls state "Particualrs declared by the shipper but not acknowledged by t...

Kim's observation - " the tricky part is of course is that the UCP does not cover this (does not forbid it either)" is absolutely true. Please compare this with Article 48 (c) that states " The transferring Bank shall be under no obligation except to the extent and in the manner expre...

Can a confirmation be added to cover only the risk on the Issuing Bank and its country, without covering the documentary risk? In this case, the Confirming bank cleary communicates in its covering letter to the beneficiary that the confirmation does not cover documentary risk. The stand the Confirmi...