Letter of Credit - Applicant

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Kiara
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Letter of Credit - Applicant

Post by Kiara » Thu Jun 09, 2016 8:15 pm

Hi All,

Can an LC be issued in the name of a private individual rather than a company??

Can't seem to find anything anywhere.

Kind regards,
Kiara
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trbvn
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Post by trbvn » Sat Jun 11, 2016 10:54 pm

Yes it can, at least in my country. UCP does not prohibit private individuals from being applicant of a l/c. You may want to check local regulations.
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Navi
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possible

Post by Navi » Mon Jun 13, 2016 2:03 pm

Hi,

UCP is not concerned with the issue on whose behalf or in whose favour an LC to be issued. It is the concern of inner regulations of each country. For instance, in Turkey, any individual person may request his bank to issue an LC, no need to be a company.

Regards.
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quang
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Post by quang » Thu Aug 25, 2016 9:17 am

UCP does not prevent private individuals from being applicant of a LC
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