WHETHER THE MASTER LC SHOULD BE CONFIRMED QUESTION Dear Mr. Oldman, While issuing a back-to-back LC, should the master LC be confirmed by the bank? What are the advantages of confirming the master LC? Regards Rohini — ANSWER Hi, The master LC and the back-to-back LC are separate. So, the master LC is regarded as an independent LC. If it is issued by a weak bank or a … 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?