Release Of Discrepant Document Before Making Payment

[Mitsuku]

Hello,
We issue LCs on behalf of our clients. When the LC issuing bank is authorized by us to pay discrepant docs, can the issuing release the 2/3 BLs and other docs (1/3 BL goes direct to the importer) to us before making payment to the beneficiary? Or, is the bank required to pay the beneficiary before releasing the docs to us?
Please would you kindly also quote any references to support the reply.
Thank you.
Mitsuku

[picant]

Hi Pal,

first of all the 1/3 bill of lading was consigned to issuing bank or to the applicant?
However issuing bank will pay documents at the time of delivery to applicant, considering the time necessary to remit the money abroad;(spot value etc).
Ciao