negotiation by issuing bank

[umit1492]

dear all

recently I was checking one mt 700 in which in filed 47a it states as below :

" bank to bank information : in case of negotiation of credit conformed docs at our counter , our negotiation commission will be deducted from docs value.in case of discrepant docs , equivalent of usd 50 in lc currency will be deducted from docs value along with NEG. com."

in my opinion issuing bank can only honor the documents and can not negotiate them as per articles 1 & 7 of ucp 600.
therefore above mentioned wording of the bank in mt700 must be wrong.

any comments.


b.regards
omid

[Sanaur]

Hi, with given information, it is incorrect. Moreover, Bank to bank information should have been placed in f78.

Regards