issuing bank must endorse on the reverse of the LC
Posted: Sun Jun 28, 2009 9:44 pm
dear sir,
we very often receives letter of credits with conditions that the presenting bank has to endorse on the reverse side of the credit and must certify it on the forwarding schedule. is any presenting bound by this clause? if such declaration is absent on the forwarding schedule, can the issuing bank refuse the presentation?
we very often receives letter of credits with conditions that the presenting bank has to endorse on the reverse side of the credit and must certify it on the forwarding schedule. is any presenting bound by this clause? if such declaration is absent on the forwarding schedule, can the issuing bank refuse the presentation?