Independent Undertakings under Sub-Article 7(c) UCP 600 Intro One area that often causes confusion in practice is the relationship between the issuing bank’s reimbursement obligation to a nominated bank and its payment obligation to the beneficiary. Sub-article 7(c) of UCP 600 deals with this precise point. A reader recently asked for clarification, and here’s how I explained it. QUESTION Dear Mr. Old Man, Please clarify sub-article 7(c) … Read More