Sub-Art 48(h)- "unit prices"
Posted: Fri Feb 06, 2004 12:00 am
There are some peculiarities about Vincent's example which I hope he will be kind enough to clarify :
1. How could a credit for GBP270k be transferred in part, but for the same (GBP270k) value ?
2. When determining issues regarding transferring a credit, would not the interim bank consult with its principal (first beneficiary), particularly on release of confidential data such as PO values, before making such decisions ?
3. If the LC was not for a large sum of money, would he have consulted the issuing bank for clarification ? If not, what decision would he have taken ?
Laurence
1. How could a credit for GBP270k be transferred in part, but for the same (GBP270k) value ?
2. When determining issues regarding transferring a credit, would not the interim bank consult with its principal (first beneficiary), particularly on release of confidential data such as PO values, before making such decisions ?
3. If the LC was not for a large sum of money, would he have consulted the issuing bank for clarification ? If not, what decision would he have taken ?
Laurence