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Online resource for trade finance information

Handling trade finance products can often lead to a minefield of problems and issues. Collyer Consulting Global Ltd can supply the answers through a number of different media, ranging from supplying updates on current initiatives and trends, to simply providing clarification or answers to burning questions. Questions are submitted daily by banks, importers, exporters and logistics organisations alike on a wide range of issues and topics. All are published anonymously and are available for all members to review.

Education and training forms a significant part of our offering, from Letter of Credit MasterClasses and seminars to the reviewing and updating of internal training material. Join the growing number who benefit from the information contained in the members section of this website. Sign up today!

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Recent News

Letters of Credit Are Not Disappearing; They Are Evolving! 24/09/2026

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Lloyds, SocGen turn to eUCP for digital letters of credit 18/09/2026

Société Générale and Lloyds have completed a fully digital trade transaction between the UK and France, using Enigio’s technology, in what the French lender describes as a first-of-its-kind deal...more

Latest Question

UCP 600 article 2 states: HONOUR means: a. to pay at sight if the credit is available by sight payment. b. to incur a deferred payment undertaking and pay at maturity if the credit is available by deferred payment. c. to accept a bill of exchange (“draft”) drawn by the beneficiary and pay at maturity if the credit is available by acceptance. As per the above texts, in my opinion, “incur a deferred payment undertaking” or “accept a bill of exchange”, the bank must forward the advice of honour (which is widely referred to the advice of acceptance) to the presenter, except where an accepted bill of exchange has been sent to the presenter. UCP 600 sub-article 7 (a) states: Provided that the stipulated documents are presented to the nominated bank or to the issuing bank and that they constitute a complying presentation, the issuing bank must HONOUR if the credit is available by: i. sight payment, deferred payment or acceptance with the issuing bank; Question: Must the issuing bank forward an advice of honour (the advice of acceptance) to the presenter under a deferred payment credit or acceptance credit? iii. deferred payment with a nominated bank and that nominated bank does not incur its deferred payment undertaking or, having incurred its deferred payment undertaking, does not pay at maturity; Question: Must the issuing bank forward the advice of honour (the advice of acceptance) to the nominated bank under deferred payment credit? iv. acceptance with a nominated bank and that nominated bank does not accept a draft drawn on it or, having accepted a draft drawn on it, does not pay at maturity; Question: Must the issuing bank forward an advice of honour (the advice of acceptance) to the nominated bank under an acceptance credit? v. negotiation with a nominated bank and that nominated bank does not negotiate. Question: Must the issuing bank forward an advice of honour (the advice of acceptance) to the nominated bank under a usance negotiation credit? 7 (c) states: An issuing bank undertakes to REIMBURSE a nominated bank that has honoured or negotiated a complying presentation and forwarded the documents to the issuing bank. Question: Must the issuing bank forward an advice of honour (the advice of acceptance) to the nominated bank under a deferred payment credit or acceptance credit or usance negotiation credit?