Hi
If Issuing Bank is the applicant of the L/c how the draft should be made? Please advise
If Issuing Bank Is The Applicant, How Draft Should Be Made
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Arun
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mohiuddin
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If Issung Bank is the Applicant, How Draft Should be made
Dear Arun,Arun wrote:Hi
If Issuing Bank is the applicant of the L/c how the draft should be made? Please advise
If draft drawn on the LC issuing Bank, IMO, No problem. Because LC issuing bank honour the Document. On the Other hand in sight LC draft not required.
Mohiuddn
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abrar
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Drafts
In addition to Mohiuddin's points, the issue is whether the LC calls for presentation of a draft. If it does, it should also indicate on whom it is to be drawn. If the LC does not call for a draft, none needs to be presented, and therefore the issue on whom it is to be drawn is irrelevant.