Uncategorized BENEFICIARY'S NAME By Mr Old Man Posted on August 31, 2010 1 min read 1 0 2,828 Share on Facebook Share on Twitter Share on Google+ Share on Reddit Share on Pinterest Share on Linkedin Share on Tumblr QUERY FROM PNL Please give me your answer to following case concerning different beneficiary's name : Beneficiary name in LC: Eeska Urvni a.s.Beneficiary name in documents presented: Ceska Prvni a.s.The issuing bank raised a discrepancy Is this discrepancy valid ? Your answer: Yes/No Thank you for your attention. PN Lam—————————– COMMENT Hi Lam, It is a discrepancy. Ceska Prvni a.s. is quite different from Eeska Urvni a.s. See ISBP para. 25. It is obvious that it is not a misspelling or tying error. Just a joke! You may agree with Mr. Old Man that Mr. Tham N. Tam is not Mr. Pham N. Lam. Best regards,Mr. Old Man
IS THE NOMINATED BANK REQUIRED TO VERIFY WHETHER THE BENEFICIARY HAS AUTHORIZED THE PRESENTING BANK TO PRESENT THE DOCUMENTS?
CAN THE ISUING BANK CITE “LATE PRESENTATION” AS A DISCREPANCY SOLELY BASED ON THE DATE OF THE COVER LETTER?
IS THE NOMINATED BANK REQUIRED TO VERIFY WHETHER THE BENEFICIARY HAS AUTHORIZED THE PRESENTING BANK TO PRESENT THE DOCUMENTS?
CAN THE ISUING BANK CITE “LATE PRESENTATION” AS A DISCREPANCY SOLELY BASED ON THE DATE OF THE COVER LETTER?