Dear all,
Art. 2 of UCP-600 states "Advising bank means the bank that advises the credit at the request of the issuing bank".
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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?
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Regards
Advising Bank
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- berry
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issuing bank can advise a credit
Dear bdesh
an issuing bank can advise a credit by itself. UCP 600 article 9 says
Advising of Credits and Amendments
a. A credit and any amendment may be advised to a beneficiary through an advising bank. An advising bank that is not a confirming bank advises the credit and any amendment without any undertaking to honor or negotiate.
that means its not compulsory to use an advising bank.
an issuing bank can advise a credit by itself. UCP 600 article 9 says
Advising of Credits and Amendments
a. A credit and any amendment may be advised to a beneficiary through an advising bank. An advising bank that is not a confirming bank advises the credit and any amendment without any undertaking to honor or negotiate.
that means its not compulsory to use an advising bank.
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advising bank
hi! Bdesh
I agree with berry
It would be cleary in case domestic lc which issuing bank is in the same country with beneficiaryso they can advice credit by themselves to bene.
regards.
I agree with berry
It would be cleary in case domestic lc which issuing bank is in the same country with beneficiaryso they can advice credit by themselves to bene.
regards.