DOCUMENTS ARE PRESENTED DIRECTLY TO THE ISSUING BANK BYPASSING THE NOMINATED CONFIRMING BANK QUERYMojca P – Slovenia Posted 08 Jan 10 | Hello all, I would like to hear your opinion regarding the following: We (as a 2nd dvising/beneficiary's bank) received LC issued by a Columbian Bank and advised to us through another European bank, which added their confirmation to LC, subject to presentation of complying documents to their counters. The beneficiary then … 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?