Incorporation of Sanction Clause in Letters of Credit (URGENT)
Posted: Mon Jul 09, 2018 12:23 pm
IS IT NECESSARY TO INCORPORATE ALL LCS AT THE TIME OF ISSUANCE WITH SANCTION CLAUSE TO PROTECT PARTIES FROM BEING INVOLVE OF ANY SANCTION ACTIVITY.
IF THE BENEFICIARY REQUEST TO DELETE SUCH CONDITION, DID ANY OF ICC PUBLICATION STATE ANYTHING RELATED TO
GIVE RIGHT TO ISSUING BANK TO REJECT DOCUMENT/PAYMENT HAS FALL UNDER SANCTION
IF THE BENEFICIARY REQUEST TO DELETE SUCH CONDITION, DID ANY OF ICC PUBLICATION STATE ANYTHING RELATED TO
GIVE RIGHT TO ISSUING BANK TO REJECT DOCUMENT/PAYMENT HAS FALL UNDER SANCTION