LC Confirmation by transferring bank

[rajeshs]

Dear all,
In case a transferable credit is transferred at the request of first beneficiary and the transferring bank also adds confirmation to the LC at the first beneficiary's cost and request

a. should the first beneficiary's bank send out the MT720 as transferred LC and mentioning bearing our confirmation
b. is the confirming bank liable to pay ONLY the first beneficiary upon presentation by the first beneficiary of credit compliant documents in combination with 2nd beneficiary's documents
c. is the confirming bank liable to pay the second beneficiary upon receipt of compliant documents from the second beneficiary under the transferred credit even in case post substitution of invoice and draft by the first beneficiary the document to be presented to the Issuing bank is discrepant.

Kindly advice .,
Thanks

[picant]

Hi Pal,

MT720 will indicate that the transferring bank added its confirmation.
Art 38 i, states that if the documents are compliant, but the first beneficiary substituing some documents
discrepant, the transferring bank will consider the second beneficiary presentation compliant.
Other comments appreciated
Ciao