Practices vary amongst countries. In UAE we raise a Suspicious Transaction Report (STR) with the Central Bank.

I'm not clear as to why the issuing bank charges USD35 to the beneficiary as their charges are for account of the applicant as per LC terms!

Pls visit during Dubai event it would be still warmer

Under normal circumstances I believe most of the banks cover the funds in advance and hence if the currency is USD it must have been covered and remitted to the reimbursing bank (in this case the confirming bank) for value the date of acceptance.

As there was a single covering letter from the presenting bank, it be considered as a single presentation and only USD100 deducted.

We do come across some times banks calling for BL issued "To Order" and blank endorsed.

Is there any specific reason for getting BLs issued this way?

One reason could possibly be to avoid any potential claim on the consignee from the shipping company.

Thanks to every one who had provided their response to this query. As mentioned by Mr.Jim Barnes, in this case there is a very clear evidence that the documents are not in agreement with one another (even when the copy of passport has not been called for in the credit), how could the issuing bank ig...

The clause goes on like: Inspection Certificate issued and signed by Mr.xxx holder of xx Passport No certifying that the goods have been inspected and found to be in good order and condition, whose signature appearing on the Inspection Certificate to be verified by a bank in beneficiary's country an...

LC calls for and Inspection Certificate and signature of the signing party to be verified by the negotiating bank. Documents have been presented to the issuing bank with signature on the inspection certificate verified by the negotiating bank along with copy of the passport of the signing individual...