In such construction:
Confirmed D/C oppened by Bank A, available with Bank B by negotiaiton (def payment), Bank B add's it's confirmation. Drawee: Bank A
1. Can Bank B add confirmation but not agree to negotiate documents and have obligation to the b
D/C available by negotiation with instructions to be confirm
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- Posts: 4
- Joined: Fri Apr 05, 2019 5:20 pm
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- Posts: 4
- Joined: Fri Apr 05, 2019 5:20 pm
D/C available by negotiation with instructions to be confirm
beneficiary only as confirming not bank
2. If Bank B adds it;s cofirmation would it mean the automatically Bank B agrees to negotiate the documents?
3. How the draft should be drawn by beneficiary (who's the drawee) and how it should be handled
2. If Bank B adds it;s cofirmation would it mean the automatically Bank B agrees to negotiate the documents?
3. How the draft should be drawn by beneficiary (who's the drawee) and how it should be handled
D/C available by negotiation with instructions to be confirm
Confirmation of a credit available by negotiation at the counters of the confirming bank means a definite undertaking of the confirming bank to negotiate a complying presentation and the draft must be drawn on the issuing bank
Regards
Antoine Samaha
Regards
Antoine Samaha