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Who has the right to claim

Posted: Wed Aug 15, 2018 11:01 pm
by dinesh2476
Dear Experts,

LC is issued by AAA Bank
LC Receiver is BBB Bank
LC is available with Bank CCC
Advise through Bank DDD (which is also confirming bank)
Reimbursing bank EEE
.....
Which bank has the right to send claim to the reimbursing bank EEE?

BBB- Since he is the receiver of the LC, the implied meaning is that LC instruction is to the receiver
CCC- This is bank specifically nominated by the issuing bank to act on presentation from the beneficiary. So the reimbursing bank instruction is to this bank once presentation complies.
DDD- This bank became the confirming bank as per the additional condition allowing this bank to add confirmation. This bank did not insist to change the LC available field become this bank.

Thanks &Regards
Dinesh Kumar

Bank CCC

Posted: Thu Aug 16, 2018 10:32 am
by picant
Hi Pal,

being credit available with bank CCC, I assume that this bank is the only authorized to claim reimbursement. Confirming bank will be call in case of issuing bank default.
Other comments appreciated
Ciao