CAN THE ADVISING BANK ADVISE THE LC DIRECTLY TO THE BENEFICIARY,BYPASSING THE SECOND ADVISING BANK? QUESTION Dear Mr. Old Man, We have received and LC from the Issuing bank. There is also a 2nd advising bank given in the LC. The beneficiary is our client as well. If the beneficiary is ok can we advise the LC directly to them or should we necessarily follow the route of the 2nd advising bank to advise the … Read More
WHERE THE ISSUING BANK MAINTAINS NO CORRESPONDENT BANKING RELATIONSHIP WITH THE BENEFICIARY’S BANK QUESTION Good Day. I’m Shakil Mostafa, SCM & logistics practitioner in Bangladesh. I have been working in international trade for around 12 years. I am a regular reader of your blog and Web: www.mroldman.net You are the real LC expert I have ever seen. I need your help regarding the below issues: Case: We want to import from the company … Read More
When the LC beneficiary is a “sister company” in Singapore: How can Bank V remain the presenting bank?
When the LC beneficiary is a “sister company” in Singapore: How can Bank V remain the presenting bank?