Dear
Dear,
I furnish below one of my confusion for your valuable suggestion:
According to the definition of article 2, an issuing bank functions is defined as "honour"
In addition to that according to article 8(a) we can say confirming bank’s functions is defined as "Honour" or "Negotiation"
Moreover according to sub article 12(a) of UCP 600 nominated bank which is not confirming bank is authorized to "Honour" or negotiation"
.
On the contrary, according to article 4: "……consequently, the undertaking of a bank to Honour or to negotiation or to FULFIL ANY OTHER OBLIGATION [EMPHASIS ADDED] under the credit........."
How fulfill any other obligation can be categorized or explained?
Regards
Nesarul
fulfill any other function
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nesarul
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shahriar
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!!
brother nesar,
certainly you have a great analytical power
well i could think of only one obligation besides these; examination of documents.
certainly you have a great analytical power
well i could think of only one obligation besides these; examination of documents.