Index
advising/nominated bank, 34, 51, 61
amendments to terms, 59–60
beneficiary adversely affected, 60
applicants, 34, 37
beneficiaries, 34, 51
confirming bank, 34
contract recommendations, 179
deferred payment, 36
deferred payment credits, 62–3
discrepant documents:
about discrepant documents, 63–9
unacceptable clauses, 66
discrepant document handling,
negotiating bank actions:
7 day examine time, 64
getting authority to pay despite
discrepancies, 66
offering to pay or accept against
indemnity, 65
offering to pay under reserve, 65–6
returning them to beneficiary, 64–5
sending documents for collection, 66
discrepant document handling,
negotiation possibilities, 67–9
UCP 500 (Article 10bii) on
negotiations, 68
documents required:
certificate of origin, 45
insurance certificates/policies, 45–6
invoices, 44–5
importers, recommendations for, 184
issuing banks, 34, 37–40
details expected from bank, 38–9
and exporters expectations, 38
and importers expectations, 38
issuing banks with discrepant
documents:
7 day examine time, 67
action on refusal of applicant to
accept, 67
issuing procedure:
advising/nominated bank, 40–1
beneficiary, 42
confirming bank, 41–2
reimbursement, 42–3
negotiating bank, 34
operation and specimen document,
49–52
recourse, 61–2
reimbursing bank, 34–5, 43, 51
sight credit, 35
specimen document, 39
UCP500:
Article 9. Liability of issuing and
confirming banks, 69–70
Article 10. Types of credit, 71
Article 13. Standard for examination
of documents, 71–2
Article 14. Discrepant documents and
notice, 72–3
Article 23. Marine/ocean bill of lading,
73–4
Article 24. non-negotiable sea waybill,
73–4
Article 25. Charter party bill of lading,
74
Article 26. Multimodal transport
document, 74–5
Article 28. Road, rail or inland
waterway transport documents,
75
and Swift, 51
Usance, 35–6
see also Bills of lading; Confirmation of
documentary credit
Late payment, risk to exporters, 11
Legal cases:
Banco Santander SA and Banque
Paribas, 62–3
Banque de l’Indochine et de Suez v.
Rayner, 44
Banque Nationale de Paris v. Credit
Agricole Indosuez, 63
I.E. Contractors Limited v. Lloyds Bank
Plc, 85–6
Siporex Trade SA v. Banque Indosuez, 89
United Trading SA v. Allied Arab Bank
Limited, 87
Letters of credit see Documentary letters of
credit; Standby letters of credit
Lloyds of London, 6
Marine bills of lading, 46–7
Marine insurance see Insurance
Master credit, 124, 126–7
Mate’s receipts, 49
Merchants, as importers, 3
205
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