dear cdcs
NB negociates with recourse only, explain pls
dulari
NB negociates with recourse only, explain pls
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dulari
- Posts: 24
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- First Name: golam
- Last Name: mostafa
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Negotiator
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- First Name: Ivan
- Last Name: Lee
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Negotiation with/without recourse
Dear Dulari,
I think that this expression would be more precise : "NB is not obliged to negotiate without recourse."
NB may negotiate docs and/or draft with recourse, if NB itself confirmed the credit or has expressly agreed with beneficiary to do so.
Otherwise, NB has no responsibility or liability to negotiate with recourse, because only issuing bank and/or confirming bank have obligation to pay beneficiary against a complying presentation in a normal situation.
RGDS.
Lee
I think that this expression would be more precise : "NB is not obliged to negotiate without recourse."
NB may negotiate docs and/or draft with recourse, if NB itself confirmed the credit or has expressly agreed with beneficiary to do so.
Otherwise, NB has no responsibility or liability to negotiate with recourse, because only issuing bank and/or confirming bank have obligation to pay beneficiary against a complying presentation in a normal situation.
RGDS.
Lee