Prepayment by 2nd confirming Bank/

No replies
yiannis
Offline
Joined: 02/18/2011
Posts:
Printer-friendly versionPDF version

Dear experts your advice on the below:

L/C with 2 confirming banks.

1st confirming B. is the nominated/ available with.

2nd confirming B. is only confirming / advising bank.

Beneficiary requests for prepayment by the 2nd confirming B. provided that it will present to the 2nd confirming B. complying docs.

Do you consider that is provisioned/ acceptable under UCP 600 as arts 2 Negotiation, 7.c. and 12.b, stipulate that only the nominated bank may prepay - and also under 12.b. the issuing bank authorizes only the nominated bank to prepay.

Meaning that UCP refers that only the nominated may prepay / not a confirming that is not also nominated.

your views on that would be really appreciated. 

best regards