Can anybody explain this LC Clause??
41D: Available With...By... - Name&Addr
ANY BANK BY NEGOTIATION
wht is meant by negation here ?
41D: Available With...By... - Name&Addr
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angel
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picant
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Negotiation
Hi Pal,
this sentence/clause with expiry date and place, will determinate the possibility for any bank to negotiate documents and eventually draft obtaining reimbursement from the issuing bank as per instructions in the l/c, usually by noting on the reverse of the document the amount utilized/availed.
Problem is that, specially for l/c issued and transmitted by Swift, it is no easy to determinate if the l/c document is the unique l/c document.
Remember that UCP600 admit the availability at any bank of l/c by payment, deferred payment and acceptance.
Other comments appreciated
Ciao
this sentence/clause with expiry date and place, will determinate the possibility for any bank to negotiate documents and eventually draft obtaining reimbursement from the issuing bank as per instructions in the l/c, usually by noting on the reverse of the document the amount utilized/availed.
Problem is that, specially for l/c issued and transmitted by Swift, it is no easy to determinate if the l/c document is the unique l/c document.
Remember that UCP600 admit the availability at any bank of l/c by payment, deferred payment and acceptance.
Other comments appreciated
Ciao