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Credit Available With Nominated Bank Other Than Issuing Bank

Posted: Sun Mar 09, 2014 9:53 am
by muralione
Pls clarify if credit available with nominated bank which is other than issuing bank, can beneficiary bank negotiate the documents under lc?

Negotiation

Posted: Sun Mar 09, 2014 11:24 pm
by mzhossainctg2
If nomination is not with any specific bank , LC available by negotiation and drafts drawn on any bank other than beneficiary,s bank , then beneficiary,s bank can negotiate.

Regards
Zakir
Bangladesh

Yes

Posted: Mon Mar 10, 2014 12:57 am
by silentlove
I will assume you meant negotiating as purchasing of draft or documents.

If LC is available with a Nominated Bank By Negotiation, then it can negotiate(i.e. purchase) draft or documents from the Beneficiary.