the documentary credit calls for goods of italian origin. The goods are : women's wearing apparel. Presented invoices indicating "country of origin is Italy". The details appearing under the single article show the scientific name, for ex. Capra Hircus and origin China, which is the origin...

let us first know about the kind of stand-by L/C, i.e. a commercial one or a financial one covering credit facilities.

Roland

We apply the following rules when transferring credits : - payment terms must be similar for the transferred credit as for the basic credit. Reason why is to respect art. 48 UCP, in particular point i which clearly stiupulate that in case of substitution of invoice by first beneficiary, same is auth...

Not all quieries are covered by rules or opinions. In those situations, I think that good sense prevail. My personal opinion is therefore the following. Bank A has opened a transferrable L/C. Bank B has notified 1st beneficiary by adding their confirmation. Having accepted to confirm the credit Bank...

If I can understand the reason why unit price or price should not appear on some documents I am asking myself in this precise case, is there any commercial sense in this transaction ?

Roland

My answer providing your notice of discrepancies indicated that documents are held at remitting bank disposal. The second beneficiary's bank authorization is necessary. There is not time limit for a response but it's in their interest and even more for those of their customer to answer soon. As far ...

One could say "If I was confused before, I am now confused at a much higher level". No, joking apart, I would just say that I have been impressed by the large number of opinions that have been given under above "dilemna". It is then aslo very interesting to note that opinions, in...

we have been requested by an issuing bank to advise their D/C to beneficiaries by adding our confirmation and have acted accordingly. On utilisation, discrepant documents have been presented by beneficiaries and as agreed we have sent same to issuing bank on approval basis. Discrepancies have been a...

Abdulkader, Your case is interesting but quite unusual. In fact, I can hardly understand the importers who allow a drawing of 15% against a simple receipt only. What then if first beneficiaries neither transfer no utilize the export D/C. Anyhow, my opinion is the following. Since the 15% is payable ...

under documents required presentation of a bill of lading marked "freight prepaid" is called for. additional conditions indicate "charter party bill of lading marked freight payable as per charter party is acceptable. Delivery terms are CFR free out. presented a charter party bill of ...