URR725
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moon1082
- Posts: 1
- Joined: Wed Oct 27, 2010 7:30 am
- First Name: ly
- Last Name: hoa da
- Organization: VIB
- Filter: Two Plus Two =: 4
URR725
Pls help me explain why " an issuing bank should not require a sight draft to be drawn on the reimbursing bank" according to Art9-URR725 ? Many thanks for your sharing!
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picant
- Posts: 2026
- Joined: Wed Aug 20, 2008 1:49 pm
Sight draft
Hi Pal,
IMHO, it depends on your Country Law, but sight draft in some Countries costs money for stamp duty without a reason: So it is better to draw by a Bank to bank Reimbursement letter, if TT reimbursement, by SWIFT MT 742 is not allowed.
Other comments appreciated
Ciao
IMHO, it depends on your Country Law, but sight draft in some Countries costs money for stamp duty without a reason: So it is better to draw by a Bank to bank Reimbursement letter, if TT reimbursement, by SWIFT MT 742 is not allowed.
Other comments appreciated
Ciao