STANDBY LETTERS OF CREDIT INSTEAD OF BANK GUARANTEES QUESTION Dear Mr. NGUYEN, (MR. OLD MAN) HOPE THIS EMAIL FINDS YOU WELL, SAFE, and HEALTH. I contact you after reading all over your blog at www.mroldman.net about every article especially, related to article “Back to Back LC”, and would like to ask your help to advise under circumstances: I am a trader, receive DLC MT700 after our 2% PB issuing to … 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?