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WHEN THE PRESENTER IS NOT A BANK

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PhanThanhNhan – VN

According to UCP600 – art2, presenter means a beneficiary, bank or other party that makes a presentation?
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So, in your opinions, which are major risks the issuing bank may face if the presenter is other party (for example: an financial company, etc…).

Thank all of you for your comment and advice.

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Glenne Ransier – USA

It should not matter who presents documents to a bank. It would help if each presenter identified the LC that the presentation is meant for.

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N.H.Duc -VN

Hi PTN,

I agree with Glenne. Any party can present the documents on behalf of the beneficiary.

By the way, for your further information non-banks that are financial institutions, such as insurance companies, can issue letters of credit in some countries.

Regards,
N.H.Duc

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