WHETHER TO SEND DOCUMENTS ON APPROVAL BASIS TO THE ISSUING BANK or THE CONFIRMING BANK? QUESTION Dear Mr. Old Man, We as the second advising bank and the beneficiary’s bank received MT 710 from Bank B (Country B) with the following details: Field 40B (Form of Documentary Credit): IRREVOCABLE ADDING OUR CONFIRMATION Field 52A (Issuing bank): BANK A (in Country A) Field 41A (Available with … by): BANK B BY NEGOTIATION … The beneficiary … 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?