Advising
Posted: Tue Dec 16, 2008 12:00 am
Bank A Bangladesh issued an L/C and requested Bank B in London to advise the same to beneficiary in Geneva by adding their confirmation.
Bank B issued a MT 710 to Bank C at Geneva and requested latter to advise the L/C to beneficiary.
However, field no. 78 of L/C Bank B insert a clause " Bank B will not accept or negotiate any documents or handle any transactions that are in breach of any applicable regulatory sanctions".
On enquiry they said that they have inserted the clause in the capacity of the advising bank. Beneficiary is not accepting such clause in the L/C.
My question is can advising bank insert anythink like above in the text of L/C ?
Shahed
Toronto
Bank B issued a MT 710 to Bank C at Geneva and requested latter to advise the L/C to beneficiary.
However, field no. 78 of L/C Bank B insert a clause " Bank B will not accept or negotiate any documents or handle any transactions that are in breach of any applicable regulatory sanctions".
On enquiry they said that they have inserted the clause in the capacity of the advising bank. Beneficiary is not accepting such clause in the L/C.
My question is can advising bank insert anythink like above in the text of L/C ?
Shahed
Toronto