AVALIZATION AND DRAWEE IN BILL OF EXCHANGE QUESTION Dear Mr. Old Man I have been visiting your blog frequently ever since I came to know about the blog and am very thankful to you for sharing your knowledge with others. Am herewith a question today with respect to bill of exchange incase of avalization. – Client presented document with covering letter stating “documents to be released against … Read More
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?