Hi,
Recently one reputed German chemical manufacturer(beneficiary) ask us(the applicant) "Add Confirmation" in the L/C. When we refuse to do that they ask for "clause 49 should be changed to MAY ADD". My question is there any such thing "May Add-confirmation" does legally exist according to UCP -600 or any ICC regulations.
Is There Anything Like "May Add Confirm"
-
bzaman
- Posts: 4
- Joined: Tue Sep 15, 2015 3:16 pm
- First Name: badruz
- Last Name: zaman
- Organization: beximco
- Filter: Two Plus Two =: 4
- Location: dhaka
-
gegeeee
- Posts: 147
- Joined: Fri Jul 05, 2013 5:50 pm
- First Name: Gega CITF, CDCS
- Last Name: Topadze
- Organization: Bank of Georgia
- Filter: Two Plus Two =: 4
- Location: Tbilisi, Georgia
YES it is possible.
In practice it is possible. In such majority situations beneficiary pays all charges related to confirmation.
Basically issuing bank gives Nom.Bank option to confirm the LC if bene asks them to do so. Swift program also identifies such input: May add.
Basically issuing bank gives Nom.Bank option to confirm the LC if bene asks them to do so. Swift program also identifies such input: May add.
-
bzaman
- Posts: 4
- Joined: Tue Sep 15, 2015 3:16 pm
- First Name: badruz
- Last Name: zaman
- Organization: beximco
- Filter: Two Plus Two =: 4
- Location: dhaka
thank u guy
your answer is convincing. thanks for it.