…....for Professionals
A
Md. Mohiuddin, cdcs
PRESENTATION
1
CDCS MENTOR, Md. Mohiuddin;
Mohiuddin; Cell: 01716308384; e-
e-mail: cdcs.mentor.bd@gmail.com
UCP 600 Article 7:Issuing Bank Undertaking CDCS MENTOR
…....for Professionals
2
CDCS MENTOR, Md. Mohiuddin;
Mohiuddin; Cell: 01716308384; e-
e-mail: cdcs.mentor.bd@gmail.com
UCP 600 Article 7:Issuing Bank Undertaking CDCS MENTOR
…....for Professionals
Independent from:
Suggested Answer:
Answer: A credit can only be made available with an
issuing bank by honor i.e. payment, deferred payment or
acceptance. Under the definition of negotiation, a negotiation
credit is a credit that is available with a nominated bank either
with a draft drawn on a party other than the nominated bank i.e.,
the issuing bank or reimbursing bank, or no draft. For another
bank to negotiate, it would require the credit to indicate that it
was available with that bank or available with any bank.
Suggested answer:
answer: The issuing bank undertaking is to honor
documents that constitute a complying presentation. If the
issuing bank determines that the documents do no comply, then
they are under no obligation to honor no matter whether a
confirming bank or nominated bank determined that in their
opinion, they did comply.
Suggested answer: