CAN BANKS IN VIETNAM ISSUE STANDBY L/Cs? Thu Cam's query on standby L/Cs Dear Mr. Duc, Relating to Standby LC, you mean that banks in Vietnam can not issue this kind of LC or they can but rarely issue it. In one case, one customer asks us to issue a Standby LC, for a loan of this customer at another bank, IFO this bank. All are in … 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?