An LC is issued with a Usance of 120 days, which is available with a nominated bank, which also states " all bank charges outside the issuing bank's country are for beneficiary's account. Nominated bank negotiates and forwards documents to issuing bank. Issuing bank sends an acceptance message ...

Article 8 a ii states about the role of the confirming bank and states that negotiation is without recourse. If the LC is unconfirmed, I presume negotiation is possible with recourse.
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A beneficiary under an LC has submitted export documents, available with our bank by sight payment. We are authorised to claim reimbursement from issuing bank's newyork office . Since the customer is cash rich, they do not want payment before receipt of proceeds by our bank. what would be our bank's...

If the LC has been issued subject to UCP and your presentation of documents are under UCP, the acceptance message received from the issuing bank is deemed to be from the issuing bank and not the applicant. However some banks provide an acceptance which states " documents have been accepted by t...

Of late we notice that the insurance polices / certificates presented , does not appear to be an original one. It appears to be scanned copy of the original. In one instance the insurance policy presented stated on its face " this is electonically generated ". The insurance document invari...

Thanks for the responses. After discounting if a fraud or forgery is detected and presuming the court order stops the issuing bank from debiting the applicant's account, how should the issuing bank protect itself, if no recourse is available ?
Regards
Vishu

The issuing bank earns the interest and related commission on the transaction. It is business for the issuing bank.

Regards
Vishu

After acceptance of a document under usance LC, issuing bank decides to discount it and pay the beneficiary. Can payment be made with recourse ?
Regards
Vishu

Under 16 c (iii)(a), the documents are held at the disposal of the presenter and their instructions are awaited. Under this clause the documents cannot be released to applicant, if it is accepted by applicant. However under article (b) , documents can be released to applicant, without referring back...

Thanks Smith.
In case the nominated bank is open and working on saturday, would your opinion change ?
Regards
Vishu