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confirmation of LC

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Thu, 07/09/2009 - 06:49
gstan69
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Joined: 06/09/2008
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We received a LC from customer, the confirmation instruction in field 49 shown 'confirm' and one of the additional condition stated in LC is "in case this doc credit be notified to beneficiary without the bank (beneficiary advising bank) adding their confirmation, the following clause will be applicable : 'Euro50 discrepancy fee plus all relative swift charges will be deducted from the proceeds for each presentation of discrepant documents under this documentary credit'", please advise how do the benefiaciary advising bank add their confirmation in LC?

‹ Truck consignemnt Note or B/L B/L for DOC LC not controlled or generated by Beneficary ›
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Thu, 07/09/2009 - 19:27
#1
Tradeknowledge
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Joined: 02/22/2009
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Confirmation

The bank that sent you the LC will have stated in their letter to you something similar to:

"This LC is advised only"

or

"We hereby confirm this LC" when they sent you the LC. In the first example, no confirmation was added.

Best Regards

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Thu, 07/09/2009 - 13:23
#2
Frammi
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Joined: 08/17/2007
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Dear Gstan69,

Confirmation is to be expressed either in advising the credit or in a separate letter of confirmation. 

Beneficiary's bank will surely know and be able to tell you.

   -Each long journey starts with a small step-

Best regards

Frammi

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