EARLY REIMBURSEMENT CLAIM QUERY FROM THOMAS I have a question. We negotiated a credit which required us to first send an advice of negotiation to the issuing bank and then after three working days to claim reimbursement on the reimbursing bank. We sent the reimbursement claim on the day of negotiation without sending an advice to issuing bank. The issuing bank requests us … 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?