The Meaning Of Communicate On The Credit
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- Joined: Mon Mar 03, 2014 4:52 pm
- First Name: Jaeyoung
- Last Name: Chun
- Organization: InJE
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The Meaning Of Communicate On The Credit
Does Communicate in the credit mean "Agree to its nomination" ? like Confirmation ? I mean, If i am a bank, and If i've communicated my express to beneficiary, does it mean i gave the beneficiary my undertaking? such as Honour, Negotiation.
- picant
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Art 12 a
Hi Pal,
I think you have to expressly declare that your bank will act as per nomination, and book your undertaking, silent confirmation, p.e.; If you only state in the advice, that your ready to effect all necessary transactions, this an opportunity not an undertaking.
However please indicate the wording you use in advising l/c.
Other comments appreciated
Ciao
I think you have to expressly declare that your bank will act as per nomination, and book your undertaking, silent confirmation, p.e.; If you only state in the advice, that your ready to effect all necessary transactions, this an opportunity not an undertaking.
However please indicate the wording you use in advising l/c.
Other comments appreciated
Ciao