MULTI-APPLICANT AND BENEFICIARY CREDIT QUERY FROM wuhu73 Can it be more than 1 entity as the Applicants and Beneficiaries? For examples, in a commercial or standby credit , let A and B as the Applicants and C and D as the Beneficiaries. I know there are additional conditions to cope this scenario, such as the clause of joint and several benefit for the Benef. … 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?