LETTERS OF CREDIT ISSUED IN FRENCH QUERY FROM THOMAS (KOREA) Dear friends, How do you deal with Algerian banks which insist onissuing their letter of credit in French ? With warmest regards,Thomas———————————- COMMENT FROM NGUYEN HUU DUC (VIETNAM) Dear Thomas, UCP does not have any articles dealing with the language of the credit, whereas the interpretation in ISBP para. 23, which says under international standard banking … 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?