CAN THE APPLICANT CHANGE THE BENEFICIARY’S ADDRESS AS PER THE BENEFICIARY’S STAMP ON THE PROFORMA INVOICE? QUESTION Dear Sir, The beneficiary’s address on the proforma invoice is slightly different from the stamp of beneficiary on it. So, the applicant wants to change the address as per stamp. Is this allowed? Regards Jawad Askari Bank Pakistan. —- ANSWER Hi, LC would be issued based on the contract or proforma invoice provided by the applicant. However, LC by … 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?