Can We Issue A Back Dated Standby Letter Of Credit?
Posted: Tue Aug 13, 2013 11:46 am
A credit issued on 1 July 2013 under UCP latest version at sight basis. Available any bank in the beneficiary’s country by negotiation under the form of ‘without’ that is unconfirmed.
After 42 days later dated 11 august 2013, customer is requesting for issuance of a SBLC (for protecting above transaction).
How it is possible to issue a back dated SBLC? Why would applicant be interested? Is there a default already so that issue SBLC, beneficiary will immediately presents the claim? It could be a case.
What should we do now? Based on relationship and comfort level with the customer, can we may
issue strictly as an exception for bonafide reason?
Regards
Md. Saidul Islam
PO, EXIM Bank, Dhaka.
Email: sayed_eximbank@yahoo.com
After 42 days later dated 11 august 2013, customer is requesting for issuance of a SBLC (for protecting above transaction).
How it is possible to issue a back dated SBLC? Why would applicant be interested? Is there a default already so that issue SBLC, beneficiary will immediately presents the claim? It could be a case.
What should we do now? Based on relationship and comfort level with the customer, can we may
issue strictly as an exception for bonafide reason?
Regards
Md. Saidul Islam
PO, EXIM Bank, Dhaka.
Email: sayed_eximbank@yahoo.com