DC issue - Bona Fide Holders

[keihkwong]

Dear Experts

We received a Documentary Credit with the following statement:
This DC is issued by ABC Bank who hereby engage with the drawers and/or bona fide holders that drafts drawn in conformity with the terms of this DC will duly honoured on presentation.

Can anyone tell me who is bona fide holders and what is their connection with the participant of LC. i.e. the applicant and the beneficiary.

Thanks in advance for your valuable comments.
Kei

[picant]

Hi Pal,

it means a holder that has received documents legally or, at least, thinking that all was legal.
Ciao