Latest shipment date is earlier than issuance date of LC

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Posted in DC-Pro on Jul 18, 2001 at 9:42:15 PM
"STALE" & "LCs" SOLELY FOR EASY COMMUNICATION PURPOSE
Mr. Bassilkelany, please note that when we use the word "stale", we put it in brackets ("stale") to indicate that this is not an official UCP 500 term. We use it just for easy communication purpose as we are aware that the viewers of the DC PRO may not be all bankers and in fact some bankers also use the term "stale" in their discrepancy(ies) advices.
NO OFFICIAL ABBREVIATIONS
Of course we understand that the plurals of B/L and L/C should be ...

Posted in DC-Pro on Jul 18, 2001 at 4:08:12 AM
GIVE MORE ALTERNATIVES
To respond to the comments from Mr. Bassilkelany, there are many alternatives to achieving the same result. To follow our consultancy practice, we give more alternatives for the enquirer to choose from.
RISK MANAGEMENT POINT OF VIEW
We have seen many applicants adding new terms and conditions in their Ls/C without stating that the related UCP 500 articles do not apply. Changing sub Article 39 (b) on tolerance percentage (10% to replace 5%) is a good example. This sub Article gives ...

Posted in DC-Pro on Jun 27, 2001 at 11:39:59 PM
LC ISSUED AFTER SHIPMENT A POSSIBILITY
In certain parts of Asia, quite often the LC arrives only just before the shipment deadline as stated in the sales contract, in order to allow the applicant to generate more cash flow. In acute cases, the LC may arrive even after the shipment has been made.
OTHER ALTERNATIVES FROM RISK MANAGEMENT POINT OF VIEW
However, from risk management point of view, such LC should have stated that Article 43 (a) of the UCP 500 ...

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