What To Do When Documents Presented Directly To Issuing Bank
Posted: Mon May 06, 2013 2:05 pm
Dear Experts,
''Lc available with nominated bank is also available with issuing bank''.
If issuing bank receives documents directly from the beneficiary what are the points to be checked in addition to normal standard banking practice. I have listed below(two) but i am not sure that these to be checked
1. KYC of the beneficiary.
2. We need to check with presenting bank as to know whether any presentations have been made under this letter of credit by the beneficiary and if any outstanding charges yet to paid by the beneficiary to presenting bank.
Regards
Dinesh
''Lc available with nominated bank is also available with issuing bank''.
If issuing bank receives documents directly from the beneficiary what are the points to be checked in addition to normal standard banking practice. I have listed below(two) but i am not sure that these to be checked
1. KYC of the beneficiary.
2. We need to check with presenting bank as to know whether any presentations have been made under this letter of credit by the beneficiary and if any outstanding charges yet to paid by the beneficiary to presenting bank.
Regards
Dinesh