WHERE BL IS REQUIRED TO SHOW BOTH APPLICANT AND ISSUING BANK QUESTION Dear Mr. Oldman, Good day, I’m Stefan a banker from Switzerland who just entered the beautiful world of L/C’s. I want to also add that I’m a big fan of yours and I often check your blog when I look for “answers”. I’m contacting you because I have a very interesting case of study: We (advising/negotiating bank), received an … 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?