Well, I have never heard about a SBLC available by acceptance or negotiation before and I wonder what is the interest in asking acceptation or negotiation instead of sight payment. Also, have "negotiation UCP600 art.2" and "negotiation ISP98 art. 2.01 b iii" the same meanings (di...

Dear Members, would you please clarify the ISP98 article 2.01 b points i and iii about draft acceptance and negotiation. Do they mean the issuer undertakes to pay at maturity (notwithstanding any payment default, the beneficiary gets payment direct from the issuer i/o from the applicant)? In that ca...