Thanks Abdul Kader for your inputs.

Atleast I am on track now. Once I have a legal opinion as well on this, I shall share this in the forum here.

Thanks Abdulkader! However, your assumption on assignment will include rights to claim as well. i.e the issuing bank assigns the proceeds as well as the rights to claim In which case my query is:- ABC bank despite not being a party to the actual contract, can the bank claim proceeds? if it claims, i...

Any other expert comments especially on the risks involved for ABC in accepting such an assignment....Please post your thoughts!

Thanks Jeremy! However, since the bank is only an assignee and entitled to claim despite not being a party to the purchase/sale contract, how will the legal framework consider this. i.e Legally (Gtee is subject to URDG 458) is the assignee allowed to claim? Remember there is no link between the inwa...

Hello I would like to have opinion on assignment of guarantees. Supplier : X Purchasing agent: Y Y's Bank : ABC Buyer: Z If the beneficiary of an advance payment guarantee (Y) assigns it favouring the Bank (ABC), can the bank treat this as "acceptable security" to issue a back-to-back guar...

Hi

It could be SHIP DOCK...normally it is referred as LSD - Landing Ship Dock

Anyone to confirm this!

Hi Bilsel

The topic is repetition of the same subject in this forum a few weeks back!

Please refer to the discussion on 28Jun07

Thanks Judith! I do accept your argument that Banks need not check the price as per platts quotation. I would prefer Article 15 of UCPDC 500 (Article 34 of UCPDC 600) as the basis for not checking the price as per platts as Banks do not assume liability for the value of the goods represented in the ...

Most of us would be aware of the oil price flutuation clause which read as "...IN U.S. DOLLARS PER U.S.BARREL ON BILL OF LADING QUANTITY SHALL BE THE ARITHMETIC AVERAGE OF THE MEAN QUOTATIONS FOR GASOIL UNDER THE HEADING ''FOB ARAB GULF'' AS PUBLISHED IN PLATTS ASIA PACIFIC/ARAB GULF MARKETSCAN...

Issuing bank issued a usance LC available with the confirming bank payable at sight basis for the beneficiary and interest to the account of Applicant. On shipment, beneficiary presented documents and obtained payment as per LC terms from Confirming bank(Negotiating bank) Confirming bank forwarded t...