Discount or purchase on acceptance L/C
Posted: Thu Jan 24, 2008 12:00 am
Dear Mr Barnes
Thank you for the additional kind explanation.
UCP 500 and 600 are basically the same in this respect.
It is just that UCP 600 states clearly that 'An issuing bank's undertaking to reimburse a nominated bank is independent of the issuing bank’s undertaking to the beneficiary'
Thank you.
Thank you for the additional kind explanation.
UCP 500 and 600 are basically the same in this respect.
It is just that UCP 600 states clearly that 'An issuing bank's undertaking to reimburse a nominated bank is independent of the issuing bank’s undertaking to the beneficiary'
Thank you.