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Negotiation Under Draft Drawn On Issuing Bank

Posted: Sun Jan 29, 2017 10:49 pm
by Albert
Hi all,

Can any one explain to me if the nominated bank LC available with it by negotiation at draft drwan on issuing Bank 45 days from sight , if Beneficiary represent docs to nominated bank and want to discount it , so how nominated bank can determine the maturity date ,

Negotiation under drwan on issuing bank

Posted: Wed Feb 01, 2017 6:58 pm
by hari86
In my opinion, the draft drawn on issuing bank, so nominated bank can determine the maturity date is the date of presentation docs plus about 07 working days.