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Posted: **Sat Aug 09, 2014 8:24 pm**

Dear members
Does the IB have 5 business days to accept refuse documents when advising bank has presented them on approval due to discrepancies.

Appreciate your valuable comments

Posted: **Sun Aug 10, 2014 3:36 pm**

Hi Pal,

except when l/c is expired,the issuing bank has 5 days to accept or refuse documents even if sent on approval basis.
Approval basis is not on collection basis, IMHO.
Ciao

Posted: **Thu Aug 14, 2014 10:03 am**

Hi,
As per UCP600 art 14.b, Issuing Bank obliged to sent their approval/rejection under docs presented within 5 working days even the docs was sent on approval basis.
.
Other opinion welcome
.
Regards
Titi
PT BNI (Persero) Tbk

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Obligation Of Issuing Bank When Document Is Sent On Approval

Obligation Of Issuing Bank When Document Is Sent On Approval

Approval

issuing bank obligation