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refund the payment with interest

Posted: Wed Jan 13, 2010 1:09 pm
by edilee
Hi
sometimes we see rules like that if confirming bank reimburse but issuing bank refuses rightly
payment must be returnet to issuing bank with interest
but what is the rate and how interest according to what

no standard

Posted: Fri Jan 15, 2010 12:53 pm
by berry
i am afraid there is not standard of it. but in most cases i believe it would be the LIBOR. other comments appreciated