ICC Digital Library Forum

We received a transferable, confirmed,acceptance l/c (drafts drawn on our bank at 45 days after sight)
The benef would like to have the l/c transferred with the availability as sight (without adding our confirmation)
And the sight payment to the 2nd benef.would be made by our bank discounting the presentation of 1st benef.
(Discount charges will be paid by the 1st benef.)
What are the risks except breaching art 48 of UCP?
Is there any suggestion about the wording of field 78 ?


Thanks in advance
Yahya ,
[edited 9/6/2004 1:35:10 PM]
[edited 9/6/2004 2:05:25 PM]

The decision about whether to pay the second bene should be based on compliance of the docs with the credit/UCP alone. If this is affirmative, payment must be made regardless of events with the first bene and without waiting for presentation by the first bene.
You seem to have made the presumption that if the second bene presentation is compliant, so too will be the first bene presentation. This is a dangerous presumption.

Laurence