Acceptance credit and deferred payment
Posted: Wed Jun 24, 2009 5:39 pm
Dear all,
I furnish below one of my confusion for your valuable suggestion.
Issuing Bank Bank A
Confirming Bank Bank B
Credit available at Bank B By acceptance
Draft drawn on Bank B.
Beneficiary presented document at Bank B within stipulated timeframe.
Bank B examine document & found compliant. duly accepted the draft followed advance fund through purchase it subsequently,
forward the document to the Bank A except Draft [emphasis added]
Bank A examine the same and found compliant except draft not presented. Bank A raised discrepancy according to sub article 16(c) of UCP 600.
Query:
Can Bank A raised discrepancy regarding above or else Bank A obligated to honour the presentation according to 7(c) of UCP 600.
regards
nesar.
I furnish below one of my confusion for your valuable suggestion.
Issuing Bank Bank A
Confirming Bank Bank B
Credit available at Bank B By acceptance
Draft drawn on Bank B.
Beneficiary presented document at Bank B within stipulated timeframe.
Bank B examine document & found compliant. duly accepted the draft followed advance fund through purchase it subsequently,
forward the document to the Bank A except Draft [emphasis added]
Bank A examine the same and found compliant except draft not presented. Bank A raised discrepancy according to sub article 16(c) of UCP 600.
Query:
Can Bank A raised discrepancy regarding above or else Bank A obligated to honour the presentation according to 7(c) of UCP 600.
regards
nesar.