DPU UNDER UCP 600 Ghubshawi's QueryMystery of DPU Dear All, I have come accross this statement. "Under UCP600, the DPU remains undefined and still a bit of a mystery as to whether/how its incurrence may/must be evidenced.” Could you please comment further? Best, Ghubshawi ————————————- Mr. Old Man's ResponseDeferred Payment Undertaking Under UCP 600 Dear Ghubshawi, You may have learnt about Banco Santander case … 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?