dear all,
we are the second beneficiary's bank. we received a mail transfer where the transferring bank transferred a credit by simply endorsing a copy of the original credit. is this acceptable? for the same credit we also received amendment no. 06 in similar fashion. the amendment says that the value has increased. however the endorsement on the amendment says that only part value of the credit is transferred to us. we are bit confused. any idea?
Transfer problem with amendment
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iLC
- Posts: 504
- Joined: Thu Jun 26, 2008 10:33 pm
method of transfer
the way how a transfer is to be advised is between the transferring bank and the beneficiary. if beneficiary is happy, i see no problem
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loankim
- Posts: 146
- Joined: Thu Dec 25, 2008 12:29 pm
- First Name: Loan
- Last Name: Nguyen
- Organization: VIB
- Filter: Two Plus Two =: 4
- Location: Viet Nam
the manner
Hi all,
as far as i know, the manner in which a transferred credit is to be advised is not guided by any rules.
Once this advice contain the information which allows the second beneficiary to perform under credit, the advising bank may decide to advise it.
So that, with the form received, the advising bank has to answer whether or not they are willing to advise.
.
regards,
as far as i know, the manner in which a transferred credit is to be advised is not guided by any rules.
Once this advice contain the information which allows the second beneficiary to perform under credit, the advising bank may decide to advise it.
So that, with the form received, the advising bank has to answer whether or not they are willing to advise.
.
regards,