Collyer Consulting

Recent News

Registration for April 2021 CDCS examination is now open 25/09/2020

If you are interested, or keen, to take the CDCS examination, registration for the examination which is to be held on 16 or 17 April 2021 (date depends on your location) is now open...more

Collyer Consulting 'virtual' Letter of Credit MasterClass 2020 24/07/2020

For many people that are based in the Middle East region, I have been conducting an annual Letter of Credit MasterClass for the last 10 years...more

Latest Question

In a credit, the nominated bank is protected by UCP 600 article 35 in case compliant documents are lost in transit between the nominated bank and the issuing bank or confirming bank. Article 35 has been used by nominated banks, during the COVID crisis in March/April when compliant documents were lost in transit or could not be taken in charge by a courier service. 1) In case of an indirect guarantee, what will happen if, after receipt by the guarantor of a complying demand, the guarantor’s own demand under the counter-guarantee sent by courier cannot be taken in charge by the courier (we are going to suppose that the counter-guarantee requests a demand in a paper form)? How did guarantors deal with this problem during the COVID crisis in March or April 2020, when the time to make a demand under the counter-guarantee was very short? 2) One solution would be to extend or amend the counter-guarantee in order to enable the guarantor to make a demand in an electronic form, but I don’t see any reason why the applicant could accept such an amendment. Do you agree with me?

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October 2014

Recent News

Registration for April 2021 CDCS examination is now open 25/09/2020

Collyer Consulting 'virtual' Letter of Credit MasterClass 2020 24/07/2020

Latest Question