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TRADE FINANCE MASTERCLASS COMING IN OCTOBER!

15/09/2021 The popular annual letter of credit MasterClass is returning in October but with a wider programme. In addition to topics related to documentary credits, there will be sessions relating to bank guarantees, ISDGP, digitalisation and overviews for eUCP and eURC, as well as an overview of the URDTT which come into effect on 1 October.

All this is in addition to the usual subjects such as a review of the Opinions approved by the ICC in October 2020, March 2021 and October 2021.

For those studying for the CDCS examination, there will be sessions covering specific chapters of the CDCS guide book.

All of this will be covered in a number of webinars with all but the CDCS webinars earning CPDs for those seeking examination re-certification.

Watch this space for further information, pricing and the enrolment form.

For further information please email gary@collyerconsulting.com

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Latest Question

Refer to UCP 600 article 39. The presenting bank (bank B) has sent a full set of documents to the issuing bank (bank A) and bank A has sent an advice of acceptance to bank B and will effect payment on the due date. Before due date, bank B requested bank A to assign full proceeds to bank C. Subsequently, before due date, bank C requested bank A to assign full proceeds to bank D. Question: 1. Beginning, can bank A refuse bank B’s assignment request, and insist on effecting payment to bank B on due date? Bank A informed bank B as follows: The assignment agreement exists between your bank, the beneficiary and bank C, our bank is not a party of the assignment agreement, we refuse your assignment request. At due date, we will effect payment to your bank. After receipt of the proceeds, your bank may assign proceeds to bank C at the request of the beneficiary. 2. If bank A agreed bank B’s assignment request and replied “at due date, we will effect payment to bank C”, can bank A refuse bank C’s assignment request, and insist on effecting payment to bank C on due date? Bank A informed bank C as follows: As per UCP 600 article 39, only the beneficiary has the right to assign any proceeds, we have agreed effecting payment to your bank on due date at request of the beneficiary and bank B, we refuse your assignment request. At due date, we will effect payment to your bank. After receipt of the proceeds, your bank may assign proceeds to bank D.