Hi, I agree with Daniel that the guarantee should be issued in one original either in national language or in a common international language such as English. If it is a must for some reason, it should be issued in bilingual format, for instance, with the English text preceding the Vietnamese or vic...

Hi, This is strange but quite possible. By adding confirmation to the L/C, Bank B becomes another nominated (confirming) bank that is obligated to honour or negotiate a complying presentation made by the beneficiary and forward the documents to the (first nominated) confirming bank, i.e. Bank A, for...

Hi, It is recognized that transport articles in UCP 600 say nothing about description of goods and that ISBP just says a goods description in the BL may be shown in general terms not in conflict with that stated in the LC. From the requirement in your particular case, it is difficult to say if the d...

Hi Jeremy and Daniel,

Very well explained. Thanks.
I now agree with the majority.

Best regards,
N.H. Duc

Hi,

It is understood from UCP 600 Article 14 (d) that data (though not required by the credit) once shown in a document must not conflict with data in any other stipulated documents.

My answer is yes.

Best regards,
N.H. Duc

Hi, It should be agreed that when incorporating the requirement “In case the vessel is between 20 to 25 years of age…” into the credit the applicant did not intend to accept the vessel over 25 years of age. However, such poorly-construed requirement does not appear to convey his intention fully or c...

Hi, I think the party that endorses the B/L on behalf of the shipper should be the party that is authorized by the shipper to do so. However, banks will accept the B/L that is endorsed by any party provided that the endorsement is made in accordance with ISBP para. 77, 102 and 123, i.e. indicating i...

Hi, With or without the word “CLEAN" does not make the B/L unclean or claused unless the B/L specifically bears a clause or notation declaring that the goods or packaging are detective. Despite required by L/C, the B/L presented without indicating the word “CLEAN" would not constitute a va...

Dear Daniel, That the draft is requested to be drawn on the confirming bank under the credit available by negotiation with the confirming bank is a quite common practice . From my own experience, nine out of ten confirmed negotiation credits issued by my bank are requested by the confirming bank to ...

Hi, I think this practice may have its origin from the fact that the confirming bank would want to ensure that the LC will be available restrictedly with it. Please note that if the draft is drawn on the confirming bank, the confirming bank must PAY, not NEGOTIATE though LC is available by negotiati...