DOCUMENTS V. GOODS, SERVICES or PERFORMANCE QUESTION Dear Mr. Old Man, We have a case that needs your advice. We issued an LC available with our bank by acceptance of drafts at 60 days after BL date. The applicant took up the documents to take delivery of the goods. When the goods were unloaded, the applicant found the goods not of satisfactory quality. Now the LC … 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?