When Credit refers to "Accountee" should the actual name app
When Credit refers to "Accountee" should the actual name app
When a documentary credit asks for a transport document either consigned or notified to "Applicant" or "Accountee", could banks accept the wording As "Applicant" or "Accountee", or does the actual name of that party have to appear in lieu of the acrynom.
-
larryBacon
- Posts: 689
- Joined: Fri Apr 05, 2019 5:26 pm
When Credit refers to "Accountee" should the actual name app
Of course the actual name of the party should appear on the transport document.
However, in the real world, I have seen similar circumstances where banks have erroneously insisted on the word quoted in the L/C be printed on the transport document.
In this particular case, it may not be clear if the "accountee" is also the applicant. In such a case, clarification should be sought by the advising bank upon receipt of the L/C.
Laurence
However, in the real world, I have seen similar circumstances where banks have erroneously insisted on the word quoted in the L/C be printed on the transport document.
In this particular case, it may not be clear if the "accountee" is also the applicant. In such a case, clarification should be sought by the advising bank upon receipt of the L/C.
Laurence