Best Trade Solution

Hi
sender: LMN Bank
receiver:ABC Bank London

41D: available with by
ABC Bank London
by negotiation

42 C: Draft at
60 days sight

42D: Drawee Name and Address
ABC Bank London

46A:Document Required
1. Draft to be drawn at 60 days sight on ABC Bank London.

49:Confirmation Instruction
Confirm

57A: Advise thru Bank
XYZ Bank London

Lc Has been issued with the clauses mentioned above. And the msg has been received from the lc receiving bank to correct the lc like ' to amend 42D and to mention there issuing bank name as LMN Bank i/o ABC Bank London because of the word 'negotiation' in field 41D. Only after this correction, they can add confirmation to the lc.
Does it make any difference to the confirming/negotiating bank(as they are one as per lc) to confirm the lc?
Is the lc issued wrongly?
Need your views. Thanks.

Hi Pal,

I think it is possible to apply Article 8 a ii UCP 600:
-negotiate, without recourse, if the credit is available by negotiation with the confirming bank.

However ABC bank will add its confirmation, only under its own rules:

Other comments appreciated
Ciao

To Nivas,
It depends on ABC bank London`s bank policy of confirmation adding. But Confirm LC is usually having field 41 ``Available with`` as confirming bank and field 57 ``Advise through`` also as confirming bank.
Maybe, it makes sense simply changing field 41 to ABC bank London by ``acceptance`` because field 42 is indicating ABC bank London.

Regards, Luke