Tag: letter-of-credit

• TRANSFERABLE LC or BACK-TO-BACK LC

  

  QUESTION Hi Mr. Old Man, My name is Genevieve from Indonesia. It is my dream to run a commodity trading company one day. First of all, thank you for all the informative posts. It’s not everyday that I can learn from someone with 31 years of experience for free. I left a comment in your blog but thought…

  Mr. Old Man

  April 28, 2024

  FAQs about Letters of Credit, Q&A about Letters of Credit and Trade Finance

  letter-of-credit, trade-finance, transferable L/C or back to back L/C? And why? Thanks a lot for your willingness to have responded me in the midst of your valuable time. P. Bandung Indonesia —————- ANSWER Dear P. Thanks P.

• BRANCHES OF A BANK IN DIFFERENT COUNTRIES ARE SEPARATE BANKS

  

  BRANCHES OF A BANK IN DIFFERENT COUNTRIES ARE SEPARATE BANKS QUESTIONHiIf date and place of expiry in letter of credit says 21st Nov 2023 Singapore. However, the document were presented in a bank located at China. Does this constitute a discrepancy? I did not find anything in this regard in UCP or ISBP. As always…

  Mr. Old Man

  March 15, 2024

  FAQs about Letters of Credit

  branches-of-a-bank, letter-of-credit

• SHIPPING GUARANTEES AND OVERDRAWN DISCREPANCY

  

  SHIPPING GUARANTEES AND OVERDRAWN DISCREPAN QUESTION Dear Mr. Old Man, Please give your comments for the below case: At the request and for account of the applicant, we issued an LC for an amount not exceeding USD 500,000. As the cargo had arrived before the documents were presented to our bank, at the request of…

  Mr. Old Man

  March 1, 2024

  FAQs about Letters of Credit, Q&A about Letters of Credit and Trade Finance

  international-trade, letter-of-credit, trade-finance