Acceptance of draft
Posted: Wed Jul 18, 2018 5:00 pm
ISBI para 46(b) states that “The date of acceptance of the draft must be no later than the date the issuing bank accepts the waiver of the applicant.”
Under what circumstances can these dates be different ? And how will the nominated bank know whether drawee bank has accepted draft “ no later” than accepting the waiver of the applicant?
Under what circumstances can these dates be different ? And how will the nominated bank know whether drawee bank has accepted draft “ no later” than accepting the waiver of the applicant?