MISSING DOCUMENT REVISITED QUESTION Dear Mr. Old Man, I have a case that needs your professional advice: LC required, among other documents, Commercial Invoice in 4 copies. The presenter made presentation with the covering schedule indicating 4 copies of Commercial Invoice presented. However, when checking the documents the issuing bank found only 3 copies presented and raised the discrepancy “3 copies of invoice … 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?