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
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nesarul
- Posts: 513
- Joined: Sun May 18, 2008 9:46 pm
- First Name: Nesarul
- Last Name: Hoque
- Organization: Mutual Trust Bank
- Filter: Two Plus Two =: 4
- Location: Bangladesh
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subha1981
- Posts: 15
- Joined: Fri Jan 22, 2010 12:12 pm
- First Name: subhashini
- Last Name: viswanathan
- Organization: ocbc bank
- Filter: Two Plus Two =: 4
Nominated Bank
Hi
In this case, then it is only a presenting bank.
pls correct me if iam wrong.
Rgds
subha
In this case, then it is only a presenting bank.
pls correct me if iam wrong.
Rgds
subha
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narisa
- Posts: 63
- Joined: Tue Feb 03, 2009 9:23 pm
nominated bank
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)
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)