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Welcome to Collyer Consulting

Online resource for trade finance information

Handling 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 simply providing clarification or answers to burning questions. Questions are submitted daily by banks, importers, exporters and logistics organisations alike on a wide range of issues and topics. All are published anonymously and are available for all members to review.

Education and training forms a significant part of our offering, from Letter of Credit MasterClasses and seminars to the reviewing and updating of internal training material. Join the growing number who benefit from the information contained in the members section of this website. Sign up today!

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Recent News

Autumn and Winter 2020 newsletter now available for Members 30/11/2020

The Autumn and Winter 2020 newsletter is now available for viewing in the Newsletters / Articles / External Publications tab of the Members Information section...more

November 2020 – News Highlights 26/11/2020

ICC releases the “ICC Identity Management Guide” The production and distribution of goods and services are increasingly organised in global value chains supported by electronic communication...more

Latest Question

A credit stipulates that invoice, packing list and full set of original bills of lading made out to order and blank endorsed marked freight prepaid and notifying applicant are required to be presented. Upon checking the presented documents, the issuing bank refused them due to the discrepancy: copy instead of full set of original bill of lading presented. The presenting bank then sent the full set of original bills of lading to the issuing bank within the presentation period (the content of the original bill of lading remain unchanged). The issuing bank then refused again due to the following 3 new discrepancies: Late shipment Bill of lading:  showing gross weight differ from packing list not showing carrier’s name The presenting bank argued that the 3 new discrepancies existed in the previous presentation, the issuing bank should have raised them in the first refusal advice. In the FIRST refusal notice, the only discrepancy raised by the issuing bank is that ‘copy’ instead of ‘original ‘bill of lading presented (which means except originality of the bill of lading, all other aspects of the documents are in order) and since the full set of original bills of lading are now presented to the issuing bank in time, the issuing bank cannot refuse the documents due to the discrepancies that already existed in the previous presentation. Question : 1. Must the issuing bank list other discrepancies on the photocopy of the bill of lading (discrepancies such as late shipment, gross weight differ, not showing carrier’s name, which can clearly be identified from the photocopy of the bill of lading), in addition to ‘copy instead of full set of original bill of lading presented‘? in above case, is the second refusal advice valid or not? 2.If in the FIRST refusal advice, the discrepancy is described as ‘full set of original bills of lading not presented‘, then under the above case, can the issuing bank still have the right to refuse for the 3 new discrepancies the second time? That is to say, will the consequence be different if the issuing bank uses ‘copy instead of full set of original bills of lading presented‘ or ‘full set of original bill of lading not presented’ when refusing for the first time? 3. For this case, in order to avoid any dispute, which is the better way for the issuing bank to describe the discrepancies when refusing the FIRST time? Option 1: Copy instead of full set of original bill of lading presented. Option 2 : Late shipment Bill of lading:  copy instead of full set of original bill of lading presented. showing gross weight differ from packing list not showing carrier’s name Option 3 : Full set of original bill of lading not presented Option 4 : Late shipment Bill of lading: full set of original bill of lading not presented showing gross weight differ from packing list not showing carrier’s name