whats the status of advice through bank

shahriar · Post by **shahriar** » Mon Feb 15, 2010 10:13 pm

in the light of SWIFT hand book which defines advice through bank as -

This field identifies the bank, if different from the Receiver, through which the documentary credit is to be
advised/confirmed to the beneficiary

whats your opinion on the status of advice through bank. is it the advising bank or the second advising bank?

Jackie · Post by **Jackie** » Thu Feb 18, 2010 9:44 pm

Dear

It would appear from your posting that there is something missing. Please indicate field number in order that question may be answered.

Thanks

malla · Post by **malla** » Sat Feb 20, 2010 12:05 pm

shahriar wrote:in the light of SWIFT hand book which defines advice through bank as -

This field identifies the bank, if different from the Receiver, through which the documentary credit is to be
advised/confirmed to the beneficiary
whats your opinion on the status of advice through bank. is it the advising bank or the second advising bank?

hi

if it is the information related to field 57D,In my opinion it would be related to second advising bank.

malla

shahriar · Post by **shahriar** » Sat Feb 20, 2010 2:18 pm

thanks for all the reply.

the field i referred is 57a. what bothers me is "if different" and "confirmed". what i used to know that if SWIFT field 49 says "ADD", then its the receiver of 700 who is authorized to confirm the LC. but now from this definition it seems that second advising bank is also authorized to confirm.

This field identifies the bank, if different from the Receiver, through which the documentary credit is to be
advised/confirmed to the beneficiary

nayanrshah · Post by **nayanrshah** » Sat Feb 20, 2010 11:40 pm

In my view only only first advising bank is authorized to confirm.

Jackie · Post by **Jackie** » Mon Feb 22, 2010 8:47 pm

Hello

In respect to the confirmation on 2nd advising bank. This may be shown on the l/c by filling in the field 49 as "without" as this field is for the recipient of the l/c ie first advising bank.

You may then type your confirmation clause in field 47a along the lines "At the request and expense of the beneficiary, this l/c may be confirmed by xxxx bank". in consideration of xxxx bank so doing, drafts may be drawn on themselves and they may claim reimbursement from xxxxx bank at (sight or term)". Alternatively if there is enough room, type in field 78 bank to bank instructions.