According to ISBP 745 B9) "When a credit indicates the drawee of a draft by only stating the SWIFT address of a bank, the draft may show the drawee with the same details or the full name of the bank."
My question is: If the credit indicates full name of the bank as the drawee of the draft then whether the draft can show the drawee as SWIFT address.
Need help...
-
Altab
- Posts: 2
- Joined: Thu Jun 29, 2017 2:36 pm
- First Name: Md Altab
- Last Name: Hossain
- Organization: Pubali Bank Limited
- Filter: Two Plus Two =: 4
- Location: Dhaka
-
dinesh2476
- Posts: 727
- Joined: Sat Oct 15, 2011 12:27 pm
- First Name: Dinesh Kumar
- Last Name: ...
- Organization: Chrome
- Filter: Two Plus Two =: 4
- Location: PU
Need help...
altab,
We have many experts in this forum, soon you will get a response on this.
To my knowledge neither bill of exchange act nor ISBP restrict this.
the below article is to refrain quoting invalid discrepancies as we may come across such situation often at the time of examining documents. ''may''= possible
same way don't see any issue stating the SWIFT address instead of ADDRESS, as long as the SWIFT is the same as the address of the particular bank.
Quote
According to ISBP 745 B9) "When a credit indicates the drawee of a draft by only stating the SWIFT address of a bank, the draft may show the drawee with the same details or the full name of the bank."
Unquote
Thanks & Regards
Dinesh Kumar
We have many experts in this forum, soon you will get a response on this.
To my knowledge neither bill of exchange act nor ISBP restrict this.
the below article is to refrain quoting invalid discrepancies as we may come across such situation often at the time of examining documents. ''may''= possible
same way don't see any issue stating the SWIFT address instead of ADDRESS, as long as the SWIFT is the same as the address of the particular bank.
Quote
According to ISBP 745 B9) "When a credit indicates the drawee of a draft by only stating the SWIFT address of a bank, the draft may show the drawee with the same details or the full name of the bank."
Unquote
Thanks & Regards
Dinesh Kumar
-
TaiOanlan
- Posts: 77
- Joined: Sat Dec 22, 2018 7:44 pm
- First Name: Luke
- Last Name: Yo
- Organization: FI
- Filter: Two Plus Two =: 4
- Location: TOK
Re: Need help...
Dear Atlab,
If a credit indicates Field 42 as A, then only indicates SWIFT code on drawee of draft would be fine.
If a credit indicates Field 42 as D, then indicates full bank name and address exactly as per credit.
It may highly depends on a bank`s practice, so there might be different opinion.
Regards, Luke
If a credit indicates Field 42 as A, then only indicates SWIFT code on drawee of draft would be fine.
If a credit indicates Field 42 as D, then indicates full bank name and address exactly as per credit.
It may highly depends on a bank`s practice, so there might be different opinion.
Regards, Luke