UCP 600 sub-article 9 (b) indicates “the advising bank signifies that it has satisfied itself as to the apparent authenticity of the credit or amendment“.
UCP 600 sub-article 9 (c) indicates “the second advising bank signifies that it has satisfied itself as to the apparent authenticity of the advice it has received“.
Why does the latter use word “the advice it has received” rather than “the credit or amendment” as the former?
why is there different forms of authentication for the advising bank and second advising bank? Question raised: 20/10/20
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Re: why is there different forms of authentication for the advising bank and second advising bank? Question raised: 20/1
Simply because the second advising bank cannot verify the authenticity of the credit itself (because it has not received the same through their own electronic system ) but from other advising bank. The 2nd adv bank has to check whether or not info received from the 1st advising bank is true and authentic. Establishing authenticity of the 1st advice implicitly satisfies the 2nd advising bank need regarding the authenticity of the instrument itself.