13. Why a nominated bank is not required to tender compliance certificate to a reimbursing bank ? Answer: As per Article 13b(ii) of UCPDC 600 A claiming bank shall not be required to supply a reimbursing bank with a certificate of compliance with the terms and conditions of the credit. 14. How many (minimum) parties are required to give consent, while amending a confirmed LC? Answer: There are minimum three parties required to give consent, while amending a confirmed LC. As per Artice 10(a) a credit can neither be amended nor cancelled without the agreement of the issuing bank, the confirming bank, if any, and the beneficiary. 15. What is the meaning of Blank-back/Short form BL? Answer: The BL will be Blank back/Short form if make reference to another source containing the terms and conditions of carriage (short form or blank back bill of lading) [Article 20a(v) of UCPDC 600]. 16. State the problems of Charter Party BL as compared to Liner Party BL. Answer: Problems of Charter Party BL as compared to Liner Party BL are:

a) Vessel under Charter Party BL has no specific route but vessel under Liner Party BL has specific route.

b) There is no Birth Place for Charter Vessel but Liner vessel has Birth Place. c) Charter Vessel couldnt be tracked but Liner Vessel can be tracked. d) As Charter Vessel has no specific route, it could be easily attacked by pirates.

17. Is a letter of Credit always irrevocable? Define an LC. Answer: Yes, a letter of credit is always irrevocable. As per Article 3 of UCPDC 600 A credit is irrevocable even if there is no indication to that effect. Credit means any arrangement, however named or described, that is irrevocable and thereby constitutes a definite undertaking of the issuing bank to honour a complying presentation. [Article 2 of UCPDC 600] 18. What is the maximum time period within which a nominated bank or issuing bank will have to examine documents? Answer: A nominated bank or issuing bank will have to examine documents within five banking days. As per Article 14(b) A nominated bank acting on its nomination, a

confirming bank, if any, and the issuing bank shall each have a maximum of five banking days following the day of presentation to determine if a presentation is complying. This period is not curtailed or otherwise affected by the occurrence on or after the date of presentation of any expiry date or last day for presentation. 19. The LC prohibits transshipment. But LC bears the notation transshipment as goods are transported by a container. Will you accept the documents? Give reasons. Answer: Yes, we will accept the documents. As per Article 20c(ii) of UCPDC 600 A bill of lading indicating that transhipment will or may take place is acceptable, even if the credit prohibits transhipment, if the goods have been shipped in a container, trailer or LASH barge as evidenced by the bill of lading.