Best Trade Solution

HI all,
We issued a L/C to the first advising bank A, and second advising bank B. After that, if there is anything to clarify, bank B always send mt999 to our bank. So, does our bank answer bank B directly or our bank must anwer throught bank A for bank A's further relaying to bank B?
Thank you so much

Hi Pal,

there is a contrast between UCP and Swift Rules on advising bank, IMHO if field 57 is completed, this is the first advising bank, specially if the beneficiary's account number is quoted in field 59. The bank receiving the MT700 is called "receiver" and should send the relative MT710 to the bank in field 57. The second advising bank should be chosen by the first advising bank, so not indicated in field 57.
But this scenario will hamper major banks to intercept the most of l/c transmitted by Swift and pass these messages to Customers Relations Dept for a further "commercial" contact. On the other side
there is a big difficulty in exchanging new Swift RMA, so issuing banks have to route their l/c via other correspondent.
Your query shows that the second bank considers itsself as first advising bank, according to Swift rules.
Other comments appreciated
Ciao

Amendments must always be conveyed through the 1st advising bank (see sub-article 9d of UCP600). However, on other matters such as requests for, and providing clarification to,can be communicated between the end banks but provided that the 1st advising bank is not playing an active role under the LC. However, even if the 1st advising bank is acting merely as a "post office" and until it is agreed that the bank may be removed from the chain in coomunication, it would be a matter of good practice and courtesy to keep the 1st bank informed of any developments under the LC

DEPENDS ALSO ON BANK POLICY

Hi Pals,

I heard that in next future(2018 ?) MT700 field 57 will be called "second advising bank".
Ehm...
Ciao