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Home Tag Archives: Whether-draft-is-to-be-drawn-on-issuing-bank-or-co

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WHETHER DRAFT IS TO BE DRAWN ON ISSUING BANK OR CONFIRMING BANK

By Mr Old Man
March 6, 2010
in :  Uncategorized
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QUERY FROM DMSHETTY We had issued an Import Lc available by negotiation, authorising the advising Bank to add their confirmation and the Draft to be drawn on Confirming Bank. The advising Bank agreed to Confirm the Lc but wanted the draft to be drawn on us (i.e. Issuing Bank). Whether the advising Bank's request is in order? ————————- COMMENT N.H.DUC …

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