if a confirming bank advises the amendment to the negotiating bank without stating whether they extend their confirmation .
Can the negotiating bank assumes the credit is confirmed
Vivek
Amendment
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vivekkrish
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Navi
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The LC is confirmed
Dear Friend,
.
According to article 10b of UCP 600, A confirming will be irrevocably bound as of the time it advises the amendment if it did not inform otherwise in its advice to beneficiary and to issuing bank.
.
Regards
.
According to article 10b of UCP 600, A confirming will be irrevocably bound as of the time it advises the amendment if it did not inform otherwise in its advice to beneficiary and to issuing bank.
.
Regards