Letter of Credit Forum

fantastik sir

iam looking ofr that one write now.

Since the basic purpose of

Since the basic purpose of the internet is to share the
knowledge and to communicate with each other, I can say that forums and
blogs are playing one of the vital role in sharing the knowledge and to
communicate with each other.

regards,

phe9oxis,

http://www.guidebuddha.com

As per art. 6 of UCP 600 any credit is also available with issuing bank. So in most cases there is absolutely no need to present the docs through the advising bank and avoiding them might also save some bank charges.

A credit might however contain special clauses prohibiting presentations made by any other bank than advising bank. However I can't see any reason for such clauses except for getting a share of the charges, the advising bank collects (called kick-back-arrangements).

The other situation where docs should always be presented through the advising bank is, if that bank either

1) is also transferring bank (see art. 38 k)

2) is also confirming bank and docs are throught to be complying - for if they were not complying, the confirmation was lost anyhow and the confirming bank would no longer be a confirming bank.

   -Each long journey starts with a small step-

Best regards

Frammi

Except restrict LC, Beneficiary may send the documents through any bank where the credit is available. Advising Bank is not a must.

Bdesh