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Type of Banks

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Thu, 10/30/2008 - 11:29
warlord9609
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i hear many bank types in my LC department, please guide me what are those bank, for example issuing bank has another names, for instance, applicant bank.

 

Now I want to know what are these banks

Collecting bank - paying bank., are these names only use for Lcs?

 

thanks

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Thu, 08/19/2010 - 03:48
#1
colomentin
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In this the payment is

In this the payment is release to Beneficiary on
presentation of documents. In this beneficiary draws the bill of exchange on
issuing bank and allows some time for
acceptance.  Is same as Acceptance Credit except there is no
bill of exchange .

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Fri, 07/02/2010 - 03:40
#2
fork
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Joined: 06/15/2010
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can you tell me about the

can you tell me about the collection bank?
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Tue, 08/03/2010 - 23:53
#3
laxman12 (not verified)
International finace.

eduction loans provide by state bank of INDIA.

THANKS.

REGARDS

www.guidebuddha. coc.

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Sat, 09/18/2010 - 04:06
#4
john12
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Joined: 09/01/2010
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Take a look at some of the

Take a look at some of the essential information necessary to get school grants and make your education something affordable.
grants for nurse

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Tue, 08/03/2010 - 23:43
#5
laxman12 (not verified)
international finace

diaplays from wholesale.

visit our site.

www.guidebuddha.com

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Tue, 08/03/2010 - 23:40
#6
laxman12 (not verified)
international finace

yes go to the canarbank is collection bank.

thanks

regards.

www.guidebuddha.com

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Thu, 10/30/2008 - 12:24
#7
admin
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Joined: 05/06/2007
Posts:
type of banks

Warlord,

it is a good idea to read the UCP 600 (or if you want the UCP 500 which you will find above under the articles tab) to familiarize yourself with the various functions a bank can exercise in an LC transaction.

Issuing bank: issues lc upon application from the Applicant,

Confirming bank: undertakes a separate payment obligation independent of issuing bank to honor docs upon proper presentation,

Advising bank=mailman: tells the beneficiary that an LC has been openedn to his benefit,

Accepting bank: accepts drafts from the beneficiary, negotiating bank: negotiates drafts from the beneficiary...

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Tue, 08/03/2010 - 23:47
#8
laxman12 (not verified)
international finace

issuing bank : lc upon application for the applicant.

thanks.

regards.

wwww.guidebuddha.com

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Thu, 10/30/2008 - 22:30
#9
smmujeeb
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Joined: 07/29/2008
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Types of banks

Nominated bank : means the bank with which the credit is available or any bank in the case of a acredit avaialble with any bank

Negotiating bank : means negotiates drafts from beneficiary or purchase of documents, by advancing or agreeing to the advance funds to the beneficiary on or before the banking day on which reimbusement is due to the nominated bank.

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Tue, 08/03/2010 - 23:50
#10
laxman12 (not verified)
International finace.

hay friend w you want need types of banks.

state bank of INDIA which the credit.

thanks.

regards.

www.gudidebuddha.com

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