WHY THE BENEFICIARY REQUIRES DRAFTS IN L/C TRANSACTIONS? QUERY FROM SHAHRIARPost subject: Re: draft for negotiation dear Nguyen Huu Duc, im very happy to see you here. i always enjoy your writings about draft, u said for negotiation for sight lc draft is required which made me bit confused. from the ucp wording, its seems to me that negotiation is possible without draft. about the requirement of draft … 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?