For all my German friends

GlennRansier_ · Post by **GlennRansier_** » Fri Aug 13, 2010 1:00 am

I was provided a letter from a bank in Germany that indicated that it is generally accepted banking practice in Germany to effect payment one day after an actual due date for LC’s with a time tenor. The actual maturity date is not a holiday in Germany. I am not aware of this standard requirement. Can anyone shed some light on this requirement? I did not have this policy in effect when I managed my German operation with my previous employer.