If the BL has an on board notation satisfying UCP 600 article 20 then I would not refuse because it does not have date of issuance or issuing date.

Sveta

In fact, in many instance the 'small print' or terms and conditions in insurance documents is so small it is almost impossible to read. I do not consider it necessary to examine this small print as long as the document meets requirements of Article 28 and the terms and conditions of the credit itsel...

Dear all, Can is ask for your views on practice. I have two related questions base on real transaction situations but I have simplified the details slightly for the sake of clarity. Please assume LC amounts in both cases are identical ( as in reality almost the same) in fact this related to two sepa...

-------------------------- "letter of credit requiring presentation of an insurance cert to show company X as beneficiary, insurance presented shows claim payable to the order of company X as beneficiary." ----------------------------------------------------- This is acceptable. Company x ...

Dear Daniel and James, Thank you for helping me fine tune my understanding. I also find the wording ‘protected by UCP’ unhelpful and actually misleading. It is interesting to see the actual wording of the US Law and to see the explicit reference to ‘good faith’. I think this is important and wonder ...

Very often the phrase is used ‘protection under the UCP’ What exactly does this mean? If an issuing bank goes bankrupt as has happened during current testing times even a nominated bank has no protection under UCP. No money = no money! If there is fraud proven before maturity date of a deferred paym...

thanks for such experienced insights.

Svetlana

Can anyone advise the conclusion reached by the ICC Banking Commission Meeting in Brussels on this subject. It remains very logical to me applying the rules and reflecting practice that the nominated bank may act after taking up of documents by issuing bank. What is the official conclusion? Svetlana

This has been very helpful. What is the situation if the LC expressly stated that all documents were to be sent to the Issuing Bank by the Second Confirming Bank and not through the First Confirming Bank. The LC just stated as mentioned that the Second Confirming Bank was to claim by SWIFT from Firs...

Dear Jeremy, It is good to debate and to have different points of view and it is encouraging that in the end we agree that the main point is that the rules and decisions of the ICC need to give crystal clear direction on this point. At the moment it is clear, that there is a lack of clarity. Regardl...