MULTI-BENEFICIARY CREDIT QUERYMulti-Beneficiary Letter of Credit Daniel D – Switzerland Dear all,Would you be willing or reluctant to open a DC in favour of several beneficiaries in light of art. 1 (modified) and art. 3 (singular, plural)Daniel —————COMMENTS JSMITH – United Kingdom Daniel, the provisions of UCP600 would not affect my willingness to issue a credit (more likely a standby) in favour … 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?