Dear friends,
.
UCP 600 38g, states that transferred credit must accurately reflect the terms and conditions of the credit, including confirmation, with some exceptions stated in the article.
Can the transferring bank while transferring credit, change the payment instructions stated in field 78 of MT700 acoording to himselves?
Example:
MT700
49: Confirmed
78: We will cover you after receipt of credit conform docs at your counters and yr authenticated swift to this effect.
.
MT720
40A: adding our confirmation
49: Without
78: We will cover Lc amount upon receipt of credit conform docs at our counters...
...
Regards
UCP600, article 38 g,
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Navi
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picant
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Transferable L/C
Hi Pals,
First beneficiary will instruct the transferring bank, and the transferring bank will agree if all is comfortable. Reimbursing instructions could be changed too. Tranferring bank must act in order to avoid any trap.
Other comments appreciated
Ciao
First beneficiary will instruct the transferring bank, and the transferring bank will agree if all is comfortable. Reimbursing instructions could be changed too. Tranferring bank must act in order to avoid any trap.
Other comments appreciated
Ciao