2.03 conditions to issuance
A standby is issued when it leaves an issuers control unless it clearly specifies that it is not then issued or enforceable.
Statements that a standby is not 'available'' ,''operative'',''effective'',or the like do not affect its irrevocable and binding nature at the time it leaves the issuers control..
Does above clause mean to say that if LC has a condition that standby letter of credit is not operative/not effective, it does not require any attention of the confirmer/beneficiary?
what would be the scenario despite knowing the above said condition, issuer issues an LC with statement like not operative/not effective.
Thanks & Regards
With the introduction of Uniform Rules for Documentary Guarantee or URDG 758, the rules for Documentary Guarantee seem to be popular again. It can be imagined from the increasing number of questions that have popped up in recent days. Documentary Guarantee Forum is an effort to develop a platform to discuss these questions.
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