L/C called for a certificate from the shipping Company, Carrier or from Owner/Master of the Vessel or their Agent stating that the Carrying Vessel is ISM (International Safety Management) Code Certified However the certificate presented among original documents from the Shipping Line Agent stating t...

Dear Kim and Vincent, My comments are attempting articulate what I agree to be an 'imperfect practice' but what remains a practice that actually works on a day to day basis. I agree that it is definitely in the best interest of the beneficiary for the Credit to be available by sight payment with a N...

I don't think that you are getting my point. The wording in your article does not provide the Nominated Bank with authorisation to 'Negotiate' or 'Finance' or Purchase' or in common language 'lend money' against the documents. This practice as articulated in UCP and undertaken in huge volumes on a d...

Thank you for the response but you are missing the key point I was making, but perhaps I did not make myself clear. Under the raditional 'Negotiation Credit' as provided in UCP, the LC when issued available by negotiation authorises or allows a Negotiating Bank in the exporters country to finance th...

I am very interested in the revision of UCP so read the 2 UCP revision related articles in the Expert View section with great interest. I very much enjoyed these articles. The Vincent O'Brien article covers one of the toughest areas for the new revision - availability. There are certain parts of the...

Jeremy I would like to appreciate your valuable posts on this discussion forum which are very beneficial to the documentary credit practitioners, however I would like to correct that the Article you are referring in this post is SubArticle 20cii rather than SubArticle 20bii. Based on the information...

Yahya, I would like to share with you the experience of handling almost the same situation happened to me while handling an export negotiation. While scrutinizing documents I found out that there is inconsistency of shipment date on Insurance document with that of transport document and at that stag...