Examining insurance documents Chapter-15 Examining insurance documents Learning objectives This chapter highlights the requirements when examining documents such as insurance documents or financial, commercial and official documents. By the end of this chapter, you should be able to: ◆◆ understand the key examination criteria for insurance, financial, commercial and other […]
Read moreUCPDC 600-Uniform Customs and Practice for Documentary Credits 600 ( UCPDC ) UCPDC 600 Bangla UCPDC ARTICLE 1 Application of UCP The Uniform Customs and Practice for Documentary Credits, 2007 Revision, ICC Publication No. 600 (“UCP”) are rules that apply to any documentary credit (“credit”) (including to the extent to […]
Read moreUCPDC ARTICLE 8-9 ARTICLE 8:Confirming Bank Undertaking. a Provided that the stipulated documents are presented to the issuing bank or to any other nominated bank and that they constitute a complying presentation, the confirming bank must: i. honour, if the credit is available by a) sight payment, deferred payment or […]
Read moreUCPDC Article 5-7 ARTICLE 5 : Documents V. Goods, Services or Performance Banks deal with documents and not with goods, services or performance to which the credit may relate. ARTICLE 6 : Availability, Expiry Date and Place for presentation a. A credit must state the bank with which it is […]
Read moreUCPDC ARTICLE 4 UCPDC ARTICLE 4 CREDITS V. CONTRACTS: a. A credit by its nature is a separate transaction from the sale or other contract on which it may be based. Banks are in no way concerned with or bound by such contract, even if any reference whatsoever to it is included […]
Read moreUCPDC ARTICLE 3: INTERPRETATIONS For the purpose of these rules: Where applicable, words in the singular include the plural and in the plural include the singular. A credit is irrevocable even if there is no indication to that effect. A document may be signed by handwriting, facsimile signature, perforated signature, stamp, symbol […]
Read moreUCPDC Article 2: Definition For the purpose of these rules: Advising bank means the bank that advises the credit at the request of the issuing bank.Applicant means the party on whose request the credit is issued. Banking day means a day on which a bank is regularly open at the […]
Read moreUCPDC 600 ARTICLE 36-39 ARTICLE 36 : Force Majeure A bank assumes no liability or responsibility for the consequences arising out of the interruption of its business by Acts of God, riots, civil commotions, insurrections, wars, acts of terrorism or by any strikes or lockouts or any other causes beyond […]
Read moreUCPDC 600 ARTICLE 22-23 ARTICLE 22 : Charter Party Bill of Lading A bill of lading , however named, containing an indication that it is subject to a charter party (charter party bill of lading), must appear to: i. be signed by: • the master or a named agent for […]
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UCPDC 600 ARTICLE 20-21 ARTICLE 20 : Bill of Lading A bill of lading however named, must appear to: i. indicate the name of the carrier and be signed by: •the carrier or a named agent for or on behalf of the carrier or •the master or a named agent […]
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