negotiating bank pay to beneficiary with or without recourse
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- Posts: 54
- Joined: Thu Mar 12, 2009 5:04 pm
negotiating bank pay to beneficiary with or without recourse
Can Negotiating bank recourse to beneficiary if issuing bank refuse to pay against discrepancy?
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- Posts: 36
- Joined: Thu Mar 12, 2009 5:34 pm
Yes NB can pay with recourse
Hi ,
Yes recourse it is possible in case of negotiation unless the nominated bank is a confirming bank, it can pay bene with recourse
Rgds
Yes recourse it is possible in case of negotiation unless the nominated bank is a confirming bank, it can pay bene with recourse
Rgds
- shahriar
- Posts: 923
- Joined: Fri May 16, 2008 1:03 am
- First Name: Shahriar
- Last Name: Masum
- Organization: Mutual Trust Bank
- Filter: Two Plus Two =: 4
- Location: Bangladesh
negotiation with recourse
while UCP 600 does not directly address the issue of negotiation with recourse, one can get the idea from article 8 where a confirming bank is required to negotiate without recourse. however i think it has become a ISBP that negotiation by a nominated bank which is not a confirming bank is always with recourse.