AVALIZATION UNDER DOCUMENTARY COLLECTIONS SVISHU – Kuwait Posted 29 May 10 | Though URC 522 does not have any article covering Avalisation, at times, we get documents from the collecting banks instructing us to avalise ( guarantee the payment on due date ) . Shouldn't there be an article under URC 522 to handle such situations ? —— Daniel D – Switzerland Posted 31 … Read More
IS THE NOMINATED BANK REQUIRED TO VERIFY WHETHER THE BENEFICIARY HAS AUTHORIZED THE PRESENTING BANK TO PRESENT THE DOCUMENTS?
IS THE NOMINATED BANK REQUIRED TO VERIFY WHETHER THE BENEFICIARY HAS AUTHORIZED THE PRESENTING BANK TO PRESENT THE DOCUMENTS?