LC AVAILABLE BY NEGOTIATION A QUERY FROM LETTER OF CREDIT FORUM Our bank is doing a lot of mistakes I think. They always open LCs for any tenor at sight only by Negotiation only, I have never seen an LC opened at Sight By payment!!! I think they are using the saved templates in the swift ^^. Usually customer here when then say we … 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?