Re: presentation on SBLC

With the introduction of Uniform Rules for Documentary Guarantee or URDG 758, the rules for Documentary Guarantee seem to be popular again. It can be imagined from the increasing number of questions that have popped up in recent days. Documentary Guarantee Forum is an effort to develop a platform to discuss these questions.
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LCTest
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Re: presentation on SBLC

Post by LCTest »

I have an existing standby letter of credit, which requires presentation of copy of unpaid invoice(s) and copy of transport document for shipment of water slide. I would draw only if the applicant does not pay me, but My concern is how will the bank be reviewing these two documents? How much details will they be checking in order for my documents to be clean? Will they be checking for contract # on both invoice and transport document? How does the bank tie in the invoice and transport document for this claim? Also this standby is to cover multiple contracts, which SBLC list individual contracts. Would allowing multiple drawing and presentation meet the purpose of having more than one draw for each contract?

Thnx for your help,
Liberty6681
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drawing on SBLC

Post by Liberty6681 »

As far as i know, the drawing for SBLC requires only benef statement of default. Issuing bank need not check the documents other than benef statement of default.
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picant
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DEPENDIN ON

Post by picant »

Hi Pals,

it is necessary to quote under which rule the guarantee is issued in order to examine documents; request and supporting
documents.
Other comments appreciated
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