Advising Bank
Posted: Sat Jun 20, 2009 5:15 pm
Dear all,
Art. 2 of UCP-600 states "Advising bank means the bank that advises the credit at the request of the issuing bank".
.
Does it mean that issuing bank need to request another bank to have the LC advised i.e. Issuing Bank cannot advise the credit issued by itself?
.
Regards
Art. 2 of UCP-600 states "Advising bank means the bank that advises the credit at the request of the issuing bank".
.
Does it mean that issuing bank need to request another bank to have the LC advised i.e. Issuing Bank cannot advise the credit issued by itself?
.
Regards