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Dear Experts,

''Lc available with nominated bank is also available with issuing bank''.

If issuing bank receives documents directly from the beneficiary what are the points to be checked in addition to normal standard banking practice. I have listed below(two) but i am not sure that these to be checked

1. KYC of the beneficiary.
2. We need to check with presenting bank as to know whether any presentations have been made under this letter of credit by the beneficiary and if any outstanding charges yet to paid by the beneficiary to presenting bank.

Regards
Dinesh

Dear,

Its happened some time for save cost by the beneficiary.
.
But here some risk involved, like:
If lost documents in transit beneficiary’s future very uncertain. i.e. payment.

If found any discrepancy, how notice to the beneficiary by the issuing bank and how settle.

Of course you check with nominated bank/confirming bank (if any)
and all other is as per LC, UCP, ISBP, etc.

regards
Mohiddin

Dear mohiuddin

Thanks..

Regards
Dinesh