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Welcome to Collyer Consulting

Online resource for trade finance information

Dealing with trade finance products can often lead to a minefield of problems and issues. Collyer Consulting Global Ltd can supply the answers through a number of different media, ranging from supplying updates on current initiatives and trends, to providing clarification or answers to burning questions. Questions are submitted daily by banks, importers, exporters and logistics organisations alike.

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Recent News

BAFT release guidance paper relating to the use of automatic extension clauses 27/06/2019

BAFT (Bankers Association for Finance and Trade) has released a guidance paper relating to the use of auto-extension clauses in standby letters of credit and demand guarantees...more

eUCP Version 2.0 and eURC Version 1.0 available for download 25/06/2019

The ICC has now made available the above supplements to UCP and URC...more

Latest Question

1/ LC terms include: Field 44A - place of taking charge: Vietnam Field 44E - port of loading: Hai Phong, Vietnam Field 44F - port of discharge: Vancouver,BC, Canada Field 44B - place of final destination: Edmonton, AB, Canada Field 44C - latest shipment date 190815 Field 46A - Documents Required: 1 full set original multimodal transport document consigned to order of xxx company marked notify applicant, marked freight prepaid 2/ Document presented  Bill of lading: received by the carrier  Place of receipt: Ho Chi Minh City Port of loading: Vung Tau, Vietnam Port of discharge: Vancouver, BC, Canada Final place of delivery: Edmonton, AB, Canada Shipped on board: 20 August 2019  Place and date of issue: Ho Chi Minh City 15 August 2019 Issuing bank raised discrepancy: Late shipment (20 Aug 2019 i/o latest shipment date: 15 Aug 2019)  Please help us to clarify if this discrepancy is valid?  Can the negotiating bank argue based on the grounds: the bill of lading applied ISBP 745 paragraph D6, i.e., the date of issuance of the bill of lading is deemed to be the date of receipt, dispatch, taking in charge or shipment on board and the date of shipment (i.e., 15 August 2019) The separate, dated, notation in the bill of lading just shows the shipped on board date of the goods at the port of loading and not the date of taking in charge the good at the place of receipt.  If the bill of lading shows:  Shipped on board as 20 Aug 2019 on vessel xxx at port of loading, is this late shipment?  If bill of lading shows:  Goods taking in charge in Ho Chi Minh City on 15 Aug 2019 and there is not any separate notation of goods shipped on board on the vessel xxx is this bill of lading valid?