About Waiver Of Discrepancy

[gokce]

Hi friends,

An issuing bank has sent an MT 734 message to a nominated bank advising discrepancies and indicating that the documents are being held pending further instructions of the nominated bank.

But, one week after sending this message, the issuing bank is still waiting to hear from the nominated bank and therefore decides to return the documents.

I wonder if this action is acceptable as the refusal notice indicated that the documnts were being held pending the further instructions of the nominated bank?

Thnaks for your reply in advance.

[picant]

Hi Pal,

art 16 is quite clear the issuing bank or nominated bank once issued MT734 with codeword Hold or Notify may return documents at any time.
That is so!
Other comments appreciated
Ciao