is the bank acting on its nomincation

jmitra · Post by **jmitra** » Sat Jun 20, 2009 8:20 pm

friends,

its not uncommon to have a deferred payment undertaking from the nominated bank, which is not a confirming bank, conditional upon the reimbursement from the issuing bank. in the situation explain, is the nominated bank acting on its nomination?

narisa · Post by **narisa** » Sat Jun 20, 2009 9:55 pm

hi ! Jmitra

If the nominated bank have incurred deferred payment undertaking and pay on maturity that it's a nominated bank which act on its nomination but if they only incurred a deferred payment but not pay at maturity it not be act on its nomination.

rgds