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Need help...
Posted: Mon Feb 25, 2019 12:22 pm
by Altab
According to ISBP 745 B9) "When a credit indicates the drawee of a draft by only stating the SWIFT address of a bank, the draft may show the drawee with the same details or the full name of the bank."
My question is: If the credit indicates full name of the bank as the drawee of the draft then whether the draft can show the drawee as SWIFT address.
Need help...
Posted: Fri Mar 01, 2019 4:49 pm
by dinesh2476
altab,
We have many experts in this forum, soon you will get a response on this.
To my knowledge neither bill of exchange act nor ISBP restrict this.
the below article is to refrain quoting invalid discrepancies as we may come across such situation often at the time of examining documents. ''may''= possible
same way don't see any issue stating the SWIFT address instead of ADDRESS, as long as the SWIFT is the same as the address of the particular bank.
Quote
According to ISBP 745 B9) "When a credit indicates the drawee of a draft by only stating the SWIFT address of a bank, the draft may show the drawee with the same details or the full name of the bank."
Unquote
Thanks & Regards
Dinesh Kumar
Re: Need help...
Posted: Tue Mar 12, 2019 4:20 am
by TaiOanlan
Dear Atlab,
If a credit indicates Field 42 as A, then only indicates SWIFT code on drawee of draft would be fine.
If a credit indicates Field 42 as D, then indicates full bank name and address exactly as per credit.
It may highly depends on a bank`s practice, so there might be different opinion.
Regards, Luke