No. The bank is not correct in asking for the full set of AWB as they are non negotiable documents. The UCP 500 is also explicit about it as already notified. As a matter of fact beneficiaries stipulate set condition like B/L s without realizing the folly & sometimes the L/C opening banks also o...

Whether 15% discount is applicable or not will depend on the local foreign exchange regulations. For eg in India, the trade discount cannot exceed 12.5%. Thus any discount in excess of that will be a violation of the law. Higher discount requires a specific permission. As far as letter of credit is ...

From the banking perspective, banks opening L/C should insist for original documents to pass through it. Secondly, in many countries local laws dont permit original documents handling in this manner. Re where the original documents go & whether they reach in time. This is an extraneous matter &a...

Yes. The reason being that once the document is signed manually it acquires a new identity by affixing that signature. Since signatures are in original, the document in itself becomes original.

Documents have been sent by an Indian bank to a bank in US under URC 522. B/L was consigned to the order of US bank. Documents have been released to the buyer after signature on 180 days usance bill. Buyer has failed to pay. Indian bank is pursuing with US bank but without success. what is the recou...

In Case of an L/C, it was a condition that the certificate of analysis & G.C. report should be issued by the manufacturer. Now the problem is that the certificate of analysis only carries a name and under which in bracket manufacturer is endorsed. In effect certificate of analysis does not show ...