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Letter of Credit - Applicant
Posted: Thu Jun 09, 2016 8:15 pm
by Kiara
Hi All,
Can an LC be issued in the name of a private individual rather than a company??
Can't seem to find anything anywhere.
Kind regards,
Kiara
Posted: Sat Jun 11, 2016 10:54 pm
by trbvn
Yes it can, at least in my country. UCP does not prohibit private individuals from being applicant of a l/c. You may want to check local regulations.
possible
Posted: Mon Jun 13, 2016 2:03 pm
by Navi
Hi,
UCP is not concerned with the issue on whose behalf or in whose favour an LC to be issued. It is the concern of inner regulations of each country. For instance, in Turkey, any individual person may request his bank to issue an LC, no need to be a company.
Regards.
Posted: Thu Aug 25, 2016 9:17 am
by quang
UCP does not prevent private individuals from being applicant of a LC