Uncategorized WHETHER A DECLARATION UNDER AN OPEN COVER IS ACCEPTABLE IN LIEU OF AN INSURANCE CERTIFICATE By Mr Old Man Posted on March 22, 2014 10 second read 0 0 1,894 Share on Facebook Share on Twitter Share on Google+ Share on Reddit Share on Pinterest Share on Linkedin Share on Tumblr WHETHER A DECLARATION UNDER AN OPEN COVER IS ACCEPTABLE IN LIEU OF AN INSURANCE CERTIFICATE.
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?