If X Bank in country Y has added confirmation under Export

General questions regarding UCP 600
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HGSridhar
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Joined: Fri Apr 05, 2019 5:19 pm

If X Bank in country Y has added confirmation under Export

Post by HGSridhar » Wed Jul 04, 2018 4:19 pm

Since the LC is restricted to both the restricted bank and also available with any bank in that country, as a confirming bank for this LC, having incurred its deferred payment undertaking, should the bank X seek specific authorisation from the Issuing bank or as per Article 8 a , c , confirming bank can make the prepayment to the beneficiary.
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