CUMULATIVE REVOLVING LETTER OF CREDIT QUERY Dear Nguyen Huu Duc, Thank you for your blog, it is a very useful one. I want to propose to a customer a revolving LC. The customer is big and has enough money to pay. The LC would be 1,600,000 USD per month and 1,000,000 objects per month for a period of one year. The LC would be cumulative … Read More
IS THE NOMINATED BANK REQUIRED TO VERIFY WHETHER THE BENEFICIARY HAS AUTHORIZED THE PRESENTING BANK TO PRESENT THE DOCUMENTS?
IS THE NOMINATED BANK REQUIRED TO VERIFY WHETHER THE BENEFICIARY HAS AUTHORIZED THE PRESENTING BANK TO PRESENT THE DOCUMENTS?