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Nominated bank

Posted: Wed Jan 20, 2010 6:35 pm
by nesarul
Dear,
After nominated bank forwarded document to the issuing bank without honour or negotiation, Does Nominated bank still termed as nominated bank under credit?
Regards
Nesar

Nominated Bank

Posted: Fri Jan 22, 2010 2:57 pm
by subha1981
Hi

In this case, then it is only a presenting bank.
pls correct me if iam wrong.

Rgds
subha

nominated bank

Posted: Fri Jan 22, 2010 8:50 pm
by narisa
dear Nesarul
The nominated bank that do not act on its nomination,receipt or exam and forward docs to i.b.,still terms as nominated bank in credit and if docs comply the issuing bank must honour by pay money to benef through them and pls refer to ucp 600 art 12 (c) ;)