CAN THE ISSUING BANK REFUSE TO HONOUR THE CONFIRMING BANK IF IT FINDS DISCREPANCIES? Executive Abstract This article examines whether an issuing bank may refuse to reimburse a confirming bank after the confirming bank has declared a presentation compliant. Where the issuing bank determines that the documents contain discrepancies and issues a refusal before reimbursement becomes due, Article 16(a) of UCP 600 permits refusal. The confirming bank’s declaration of compliance does not eliminate the … Read More