LC ISSUED BY SUDANESE BANK QUERY FROM PRAKASH I've some confusion and non-transparency in the letter of credit I've received. Can someone pls. help to clear the process. I've received an L/c from Sudan. The receiver of this L/c is a paris based bank. The Sudan based bank has mentioned in Cl. 41a … with…by … a paris based bank. The sudan based bank does … 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?