Dear All,
Presenting Bank and Nominated Bank is situated in one place in country . If we submit documents directly to Nominated bank then what will be risk/benefits etc. or it is acceptable.
Generally, we are submitting shipment documents to our Bank where we are keeping current A/C. Please advise views on Presenting Bank.
Thanking you
Pradip Bhavsar
Presenting Bank Role
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Navi
- Posts: 362
- Joined: Mon Jun 23, 2008 4:17 pm
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- Last Name: Özcan
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Both possible...
Hi friend,
Presentation means delivery of documents either to issuing bank or nominated bank or the docs so delivered. From this definiton, it is possible to present docs to nominated bank and in my opinion, it is better. Because in case of discrepancies, beneficiary will have more time to correct documents than when presented to a third bank.
On the other hand, you may have close relationship with yr bank (other than nominated bank) and get their guidance for the LC and especially on preparing documents, you may prefer yr bank.
regards
Presentation means delivery of documents either to issuing bank or nominated bank or the docs so delivered. From this definiton, it is possible to present docs to nominated bank and in my opinion, it is better. Because in case of discrepancies, beneficiary will have more time to correct documents than when presented to a third bank.
On the other hand, you may have close relationship with yr bank (other than nominated bank) and get their guidance for the LC and especially on preparing documents, you may prefer yr bank.
regards