DEAR ALL,
please clarify the following:
-L/C opened with ABC bank and advised through XYZ bank in India (first advising bank) and to be advised to FGH bank F57 (second advising bank)
-FGH bank sent shipping docs in the validity of L/C (i.e L/C is still valid for shipment and payment) direct to issuing bank on collection basis under URC NO 522 not UCP 600 and requisted to remit proceeds against acceptance.
QUI: is it correct the action of second advising bank?
how could issuing bank act to :
1) applicant(could it deliver docs under coll URC 522 or ucp 600)
2) and to first advising bank?
Memo
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