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Documents Checking

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Thu, 01/19/2012 - 06:15
Lara Onanuga
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Joined: 01/19/2012
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Should advising banks (not confirming) check documents for compliance with LC terms.

‹ We are direct buyer BG SBLC LC ADVISING Correction ›
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Fri, 01/20/2012 - 05:52
#1
aliimrancma
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Joined: 08/21/2011
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DOCUMENTS CHECKING

Dear Lara,

 It depends upon your advice, if you will request advising bank, it will check for discrepancies and will advice you if any. however, advising bank takes no responsibility for discrepancies adviced by the issuing bank, even advising bank have declared it clean and complying.

regards

aliimrancma@gmail.com

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Wed, 01/25/2012 - 02:50
#2
houda
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Joined: 11/22/2011
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document examination

Dear all,
According to UCP600 Ar.14.a, any nominated bank MUST examine the documents.
Therefore, if the advising bank is a nominated bank, it has to examine the documents.
Best
h

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Wed, 01/25/2012 - 04:10
#3
Abrar
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Joined: 03/12/2009
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Examination

Actually, the "MUST" is only true, if the nominated bank chooses to act on its nomination, and then, this directive only relates to the examination of documents being limited to the documents alone, and not be influenced by any other factors not directly related to the documents, LC, or UCP.

Where a nominated bank chooses not to act on its nomination, it is not obliged to examine.

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