NB vs NB acting on its nomination
Posted: Thu Oct 23, 2014 4:08 pm
Dear,
What is the difference between "Nominated Bank" and "Nominated Bank acting on its nominations" in their duties/responsibilities?
In my understanding,
Duties of a NB= Receipt, examination/without examination and forwarding of documents
Duties of a NB acting on its nomination = Receipt, examination, Honor or Negotiation and forwarding of documents
Pls let me clear whether my understanding is okay.
Regards,
M.A. Chowdhury
What is the difference between "Nominated Bank" and "Nominated Bank acting on its nominations" in their duties/responsibilities?
In my understanding,
Duties of a NB= Receipt, examination/without examination and forwarding of documents
Duties of a NB acting on its nomination = Receipt, examination, Honor or Negotiation and forwarding of documents
Pls let me clear whether my understanding is okay.
Regards,
M.A. Chowdhury