WHETHER THE ISSUING BANK MUST HONOUR WITHIN FIVE BANKING DAYS QUESTION Dear Mr. Old Man, We have known you through your enthusiastic and expert answer for problem relate to L/C and we really admire your specialist knowledge. Now, I still have had a question and I hope you help me clarify it: “Which is the last day the issuing bank must honour a complying document presented under at sight L/C and not break UCP … 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?