NB vs NB acting on its nomination

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M.A.Chowdhury
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NB vs NB acting on its nomination

Post by M.A.Chowdhury » Thu Oct 23, 2014 4:08 pm

Dear,

What is the difference between "Nominated Bank" and "Nominated Bank acting on its nominations" in their duties/responsibilities?

In my understanding,

Duties of a NB= Receipt, examination/without examination and forwarding of documents
Duties of a NB acting on its nomination = Receipt, examination, Honor or Negotiation and forwarding of documents

Pls let me clear whether my understanding is okay.

Regards,
M.A. Chowdhury

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