i need your opinion on issuance of a non operative letter of credit.
1.how do u differentiate between a pre-advise and a non operative letter of credit
2. if someone includes the following clause, will you count it non operative?
* This credit is inoperative and not available for drawing till we send an amendment to the effect, quote //our credit no. xxxxx. dated xxxx for USD xxxxx is now operative and available for drawing. All other terms and condition of the original lc will remain unchanged.// unquote. the original advised amendment must be presented at the time of negotiation and without it presentation will not be honored. Beneficiary must also certify that they have accepted this amendment.
3. what are the possible legal consequences of a such a letter of credit?