NB vs NB acting on its nomination

M.A.Chowdhury · Post by **M.A.Chowdhury** » Thu Oct 23, 2014 4:08 pm

Dear,

What is the difference between "Nominated Bank" and "Nominated Bank acting on its nominations" in their duties/responsibilities?

In my understanding,

Duties of a NB= Receipt, examination/without examination and forwarding of documents
Duties of a NB acting on its nomination = Receipt, examination, Honor or Negotiation and forwarding of documents

Pls let me clear whether my understanding is okay.

Regards,
M.A. Chowdhury