KNOW YOUR CUSTOMER BIMALSHRESTHA’S QUERY DEAR L/C EXPERTS, I'M IMPORTING ELECTRIC MOTORS FROM CHINA.GENERALLY THE INNER COIL OF THE MOTOR IS COPPER.BUT NOW CHINA AND OTHER COUNTRY HAS STARTED MAKING MOTORS OF ALUMINIUM WIRE AS WELL.PLZ NOTE THAT ALUMINIUM WIRE MOTORS DON,T WORK PROPERLY. I WANT MY MOTORS TO BE OF COPPER COIL.BUT I FEAR IF THEY SEND ME ALUMINIUM COIL MOTORS I … 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?