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I have been looking for a concrete answer on the importance of article 12b of UCP600.

According to 7c, 8c the undertaking to reimburse the Nominated Bank is independent from the undertaking to the beneficiary. that is, what ever is the case; i mean a fraud with the LC, the nominated bank will be reimbursed by the issuing bank. therefore nominated bank has the absolute control to do anything with its acceptance. So whats the importance of article 12b?

There is no direct relevance of 7c / 8c with discounting’ a deferred payment undertaking. Logically from article 7 and 8, one can conclude that the nominated bank will be paid irrespective of whether it has purchased its undertaking or not, but I think it is unable to answer one important question; who is authorizing the nominated bank to purchase the undertaking. Since the undertaking is ultimately backed by the issuing bank, article 12b makes it clear that it’s the issuing bank that authorizes the nominated bank to purchase the undertaking. The Santander case has one of the facts that the nominated bank has crossed its authorized limit. Hence article 12b says

"By nominating a bank to accept a draft or incur a deferred payment undertaking, an issuing bank authorizes that nominated bank to prepay or purchase a draft accepted or a deferred payment undertaking incurred by that nominated bank."

Dear,
Sub article 7(c) and 8(c) speak about reimbursement right of the nominated bank or the beneficiary from the issuing bank. In a word this two sub article is a broad reimbursement article.
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sub article 12(b) provide nominated bank an explicit authority to prepay DPU or purchase of a draft drawn on it unde an acceptance credit.
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If we called sub article 12(b) as cause then sub article 7(c) & 8(c) is effect. [only those part which is relavent to sub article 12(b)].
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Or one can infer that nominated bank can feel confident to prepay DPU or purchase of a draft drawn on it unde an acceptance credit due to sub article 7(c) & 8(c) which was implied in UCP 500 followed by a historical court cases: Banco Santander Vs, Banque paribas. Sub article 12(b) is a result of this court cases to protect nominated bank.
regards
nesar