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shahriar
- Posts: 923
- Joined: Fri May 16, 2008 1:03 am
- First Name: Shahriar
- Last Name: Masum
- Organization: Mutual Trust Bank
- Filter: Two Plus Two =: 4
- Location: Bangladesh
Post
by shahriar » Sun Jan 10, 2010 2:07 pm
hi!
i just a had a LC with the following clause;
any amendment under this credit will be considered inoperative unless all the 2nd beneficiaries has agreed on it and that has been confirmed by the transferring bank.
whats your opinion on this especially when you have an amendment deleting this clause
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nesarul
- Posts: 513
- Joined: Sun May 18, 2008 9:46 pm
- First Name: Nesarul
- Last Name: Hoque
- Organization: Mutual Trust Bank
- Filter: Two Plus Two =: 4
- Location: Bangladesh
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by nesarul » Mon Jan 11, 2010 10:49 pm
dear,
Is there any documentary effect , irrespective of amendment accept or reject by the 2nd beneficiary? I think no....what do u think?
Nesar
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edilee
- Posts: 105
- Joined: Wed Dec 16, 2009 12:38 am
- First Name: edilee
- Last Name: cdcs
- Organization: cdcs
- Filter: Two Plus Two =: 4
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by edilee » Tue Jan 12, 2010 1:06 am
Hi
My opinion it depends on you and first beneficiay if you agree with this term no problem
if you dont agree you can request amendment and say in your amendment request that no confirmation will be taken from the parts
amendment can be like that
''pls cancel the term. ..... '' without any confirmation from second beneficiary and transferring bank
the term will not be valid anymore
than I think there will be no problem
other comments appreciated
