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Gary Collyer
Email gary@collyerconsulting.com or gcollyer@virginmedia.com
Telephone +44 (0)1268 680210
Mobile +44 (0)7960 236893

Mailing address:
65A Mayland Avenue
Canvey Island, Essex SS8 0BU United Kingdom

Recent News

Spurious Emails 24/11/2025

There appears to be some spam messages circulating apparently from an email address no-reply@collyerconsulting...more

Autumn 2025 Newsletter added to the Members Trade Information section 31/10/2025

This newsletter covers the 6 opinions that were approved by the ICC Banking Commission on 21 October...more

Latest Question

The original credit (MT700) : Field 40A: Irrevocable Transferable The credit amount is USD500000 In field 45A : the goods value is USD600000, Partial shipment allowed Field 42cC : draft at sight (please note the credit not stipulating the drawing percentage of the draft). The first beneficiary requested the transferring bank to transfer the credit with the following terms: Transferred amount: USD450000 Field 45A goods value USD500000 Questions: 1. As per UCP 600 sub-article 38 (g), is the transferring bank allowed to transfer the credit as per the first beneficiary’s request and why? 2. If the transferring bank transferred the credit as per the first beneficiary’s request, is there any risks for the transferring bank?