Hi Pals,
I am observing some behaviours of banks in issuing l/c, they ask or require many details concerning the
transaction, the same requires advising bank, nominated banks and if required confirming bank.
This requires a lot of work, sometime decisions etc.
The first request in establishing a Swift RMA is the Wolsberq Questionnaire to be filled, by ticking an answer a bank is engaging itself to act accordingly, so an issuing bank may assume that the banks in tthe line, having all signed this questionnaire, will making its own part, and it will be not necessary to check, to investigate on the name of the parties involved. As issuing bank I will consider that the succeiding bank will operate under a strict compliance.
I will be gad to share, here, your position about it.
Thanks and ciao