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Art 7 C

Posted: Wed Mar 30, 2011 1:00 am
by EddyDeCoster_
An issuing bank undertakes to reimburse a nominated bank that has honoured or negotiated a complying presentation and forwarded the documents to the issuing bank......

What if the credit prescribes a certain courier service and this courier service is unable to pick-uo the documents and to deliver them owing to circumstances beyond their control (war, civil commotions etc)?

Art 7 C

Posted: Wed Mar 30, 2011 1:00 am
by NigelHolt
Under any sensible system of law the nominated bank would remain protected by 7(c).