Presentation of documents
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Sajith
- Posts: 1
- Joined: Mon Feb 12, 2018 7:57 pm
- First Name: SAJITH
- Last Name: KAKKARAKKAL
- Organization: ATTIEH STEEL CO LTD
- Filter: Two Plus Two =: 4
- Location: SAUDI ARABIA
Presentation of documents
Please advise can i submit the document to a bank other than advising/negotiating bank mentioned in the LC for negotiation? or is it restricted to the advising bank? Also is it acceptable to submit the document for negotiation thru issuing bank? Pls reply immediately.
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nhungth306
- Posts: 11
- Joined: Thu Feb 22, 2018 12:48 pm
- First Name: HIN
- Last Name: BU
- Organization: Bank
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- Location: Hanoi
Re: Presentation of documents
My opinion:
+ You can submit documents to a bank other than advising/negotiating indicated in LC. But the presenting bank when undertakes negotiating will not be treated under UCP600 because it is not nominated bank.
+ Documents could be submitted to issuing bank for honour only, since issuing bank does not negotiate (see definition of negotiation in Art.2 UCP600)
+ You can submit documents to a bank other than advising/negotiating indicated in LC. But the presenting bank when undertakes negotiating will not be treated under UCP600 because it is not nominated bank.
+ Documents could be submitted to issuing bank for honour only, since issuing bank does not negotiate (see definition of negotiation in Art.2 UCP600)
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picant
- Posts: 2026
- Joined: Wed Aug 20, 2008 1:49 pm
Re: Presentation of documents
Hi Pal,
the l/c should indicated Available with .......... by........ and where it expires.
Other comments appreciated
Ciao
the l/c should indicated Available with .......... by........ and where it expires.
Other comments appreciated
Ciao