Happy New Year to all.

Best Regards
Abdulkader

I will give it another try. If we are including assignment of the benefit of the guarantee then we are referring to a different ball game. According to "A User's Handbook to the URDG' by Dr. George Affaki, paragraph 81 on page 65, from the time the assignment enters into effect, only the assign...

Since no one else have volunteered to give you a reply, I will give it a try. Assumptions made here: Supplier X bank issued APG in favour of Purchasing Agent (Y). Purchasing Agent assigned the proceeds of the APG to ABC Bank and requests it to issue APG in favour of Buyer (z). The amount of APG in f...

Jeremy,

Special thanks for taking the time in responding on your weekend.

Best
Abdulkader

What is the difference in responsibilities and rights between a nominated bank that has added its silent confirming and a nominated bank that has agreed to its nomination and so communicated to the beneficiary?

Best Regards

There is only one beneficiary and this beneficiary will have the drawing rights under the LC. When the LC allows third party documents, a party other than the beneficiary may issue the invoice; thus the expression “third party documents allowed” literally, for this credit, modifies article 18a(i) of...

I agree with your opinion; the clause does not add to what already exists; documents have to always be presented within the validity period of the credit but for a presentation that contains a transport document, unless expressly stated, documents must also be presented within the 21 days from the s...

If a confirming bank has the intention to prepay or purchase, it would be safer if it sends a list of discrepancies to the issuing bank for waiver rather than sending documents on approval basis. Once the discrepancies are waived, the confirming bank may prepay or purchase and send the documents to ...

Nominated bank, like any other bank, may discount with recourse to beneficiary. Some banks including nominated banks would not want to discount unless they receive issuing bank's confirmation that documents are found in order and that payment is forthcoming on maturity. A nominated bank that did not...

Agree with Yahya, I’m not for exclusion of the sub-article but I also understand those who would probably make amendment to the sub-article because of the following: 1) No interpretation or definition of the word "DATA" is given in UCP 600. So what does “DATA” really mean? 2) The expressio...