CONFIRMED TRANSFERRED LETTER OF CREDIT QUESTION Dear Mr Old Man, I read your blogs and find them really interesting and helpful. I have a query regarding transfer LC 1. Can a confirmed LC be transferred? 2. If yes, is it mandatory that confirmation is carried forward in MT720? There is confusion regarding the same since as per UCP only 5 things can be reduced and … 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?