Dear Kim,

Thanks for your reply. Can you clarify why the shipping company should choose?

Will it matter to us whether vessel is subject to SOLAS or not subject to SOLAS as L/C seems to be ok with both.

Hi Below is a variation of the same question, please let me know your views. LC requires: Certificate from shipping co. confirming that vessel is either A) Exempt from the SOLAS convention requirements and is not required to have certificate of conformity to the ISM code OR B) Has a current ISM Code...

Hi, What is your view on the practice, where the issuing bank deducts discrepancy fees upon payment without providing a formal notice of refusal in accordance with art.14 of UCP500? Are they allowed to do so, if the discrepancies are valid? My view is that they should provide the presenting bank wit...

Kim & Jeremy, Thanks a lot for sharing your views. I find your arguments very valid. I had based my argument on the fact that without reference to incoterms terms like 'FOB','CIF' can have all kind of meanings. Regarding the example you have mentioned. I feel in this case a better example would ...

Hi Jeremy, Thanks for your comments, Probably I was not clear enough. I agree with you that the compliance of the documents must be determined by the express terms of the credit and the UCP. I also wish to state that we deal with documents and we determine compliance on what is stated on the face of...

Hi, My personal view is that, we should not accept the invoice. Reference in an invoice to 'Incoterms 2000/1990' can be made only if the same referred to in the sales contract. If reference to incoterms 2000 or 1990 is not mentioned in the credit. I shall consider that the same is not referred to in...

Apologies for misquoting the publication number, it is indeed 645 and is seen in the icc bookstore. I have seen one affirmitive response. Do all of us agree?

Would it be correct or acceptable to quote extracts from ISBP, ICC Pub No.465 in defense of any position banks may take in case of a dispute(re the discrepant nature of documents)?

I am requesting some thoughts for reimbursements under a Red Clause Letter of Credit. In my opinion, the advance is granted to the beneficiary at the request of the Issuing Bank. Hence, any advance must be reimbursed immediately without the need for submission of 'all' credit compliant documents and...