death of applicant before acceptance

[dulari]

LC was avaiblabe with issuing bank by acceptance
Presentation was complying
before giving acceptance, applicant has died
what will be fate of payment of beneficary

dulari

[jmitra]

this is indeed a interesting question. LC is an independent undertaking. it relates to complying presentation and not to the life of the applicant. of course beneficiary gets payment

[saikryshna]

Anyway Beneficiary gets payment..........
Because Presentation is a complying pres.....
Y the applicant needs to give acceptance .........

[honey]

Hi

In this case payment will me made to beneficary even applicant expired. Because bank deals with documents and checks documents are complying or not.

If docs are in order payment will be done by issuing bank without consent of applicant that means whether applicant is alive or not.