Page 1 of 1
negotiating bank pay to beneficiary with or without recourse
Posted: Thu Mar 12, 2009 5:16 pm
by akomolpa
Can Negotiating bank recourse to beneficiary if issuing bank refuse to pay against discrepancy?
Yes NB can pay with recourse
Posted: Thu Mar 12, 2009 6:19 pm
by haribargava
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
negotiation with recourse
Posted: Fri Mar 13, 2009 8:13 pm
by shahriar
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.