Letter of Credit Forum

Dear experters

We have established documentary letter of credit on CHINA based benefeciary(ABC) for Importing  Raw materials.

Terms :drafts at  60 days usance.The Beneficiary bank negotiated the documents , where as The bill os Exchange has drawn 

by the Drawer(ABC)  on Us (XYZ BANK).I t reads

On due date  pay to order of  M/s ABC.....LTD   and endoresed by the Drawer it self .(There is no Negotiating Bank's Name)

In this BOE 1.Drawer & Payee  :ABC

2. Drawee::XYZ Bank.

1.Whether the Bill of Exchange is in Order..?  

Please explain.