Bypassing an advising bank
Posted: Fri Jun 12, 2009 11:02 pm
Dear sir,
we issued a letter of credit and advised it by SBC UK. later we were asked to confirm the credit and reached negotiation with HSBC Uk. now we need to advise the amendment via HSBC which is also the confirming bank now.my questions are -
do we require to issue an amendment to support this confirmation given that the credit is available with any bank?
if we by pass SCB, what are the potential problems?
if we ask SCB to use HSBC as second advising bank, would it be a violation of UCP 600 9d?
we issued a letter of credit and advised it by SBC UK. later we were asked to confirm the credit and reached negotiation with HSBC Uk. now we need to advise the amendment via HSBC which is also the confirming bank now.my questions are -
do we require to issue an amendment to support this confirmation given that the credit is available with any bank?
if we by pass SCB, what are the potential problems?
if we ask SCB to use HSBC as second advising bank, would it be a violation of UCP 600 9d?