reimbursement authority for a confirming bank

jabra · Post by **jabra** » Thu Apr 09, 2009 6:06 am

If a nominated bank is to debit the account of the issuing bank under a letter of credit, will it be subject to URR?

vinod · Post by **vinod** » Thu Apr 09, 2009 9:57 am

If the DC has a reimbursement clause then payment can be obtained from the reimbursing bank on presentation of compliant documents. If the issuing bank has an account with nominated bank and nominated bank debits the issuing banks account it should be specifically authorised by the issuing bank. This type of payment is not covered by URR

SHAMEER · Post by **SHAMEER** » Mon Apr 13, 2009 4:26 pm

IF YOU INCORPORATED THE URR RULES IN THE CREDIT THEN IT IS SUBJECT TO URR 725

SEE THE ARTICLE NO. 1

IT SAYS THAT ANY BANK TO BANK REIMBURSEMNT

regards,
MS

SHAMEER · Post by **SHAMEER** » Mon Apr 13, 2009 4:57 pm

IF YOU INCORPORATED THE URR RULES IN THE CREDIT THEN IT IS SUBJECT TO URR 725

SEE THE ARTICLE NO. 1

IT SAYS THAT ANY BANK TO BANK REIMBURSEMNT

Regards,
MS

rockets · Post by **rockets** » Tue Apr 14, 2009 4:57 am

the issue is not clear