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Available With Bank

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Wed, 05/19/2010 - 05:27
appu sams
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What is this Available With Bank in case of Inward Documentary Credits. What is the function of this party? How is it different from Advising and Advise through Banks?

Kindly, clarify.

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Wed, 05/19/2010 - 07:46
#1
royalty
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available with bank

available with bank is the bank that the lc states as available with bank. lc always state it. its function is to receive documents from beneficiary, examine docs and forward to issuing bank to make claims

basic function of advising bank is to deliver the lc to beneficiary, like a post office. nevertheless advising bank can be called upon to act as available with bank if lc states so

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Wed, 05/19/2010 - 08:19
#2
sn.khokhar
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available with bank

L/C feild 41D/ specifies the name of a certain bank or states it to be freely negotiable.

when the L/C states the name of a certain bank it is called a nominated bank and in this case benficiary is bound to present  documents to that nominated bank only,in other otherwords L/C becomes restricted and no other abnk is authorized to negotiate,pay or accept.

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