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    Advising of Export L/C: Nazmul Karim, CDCS

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    Nazmul Karim
    An advising bank advises the terms of an export letter of credit and any amendments without undertaking an obligation to honor or negotiate it. By advising the credit, the bank signifies it has verified the apparent authenticity of the document. An advising bank can use another bank as a second advising bank to advise the beneficiary. If a bank cannot verify authenticity, it must inform the sending bank without delay.

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    Advising of Export L/C: Nazmul Karim, CDCS

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    Nazmul Karim
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    An advising bank advises the terms of an export letter of credit and any amendments without undertaking an obligation to honor or negotiate it. By advising the credit, the bank signifies it has verified the apparent authenticity of the document. An advising bank can use another bank as a second advising bank to advise the beneficiary. If a bank cannot verify authenticity, it must inform the sending bank without delay.

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    LC advising

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    An advising bank advises the terms of an export letter of credit and any amendments without undertaking an obligation to honor or negotiate it. By advising the credit, the bank signifies it has verified the apparent authenticity of the document. An advising bank can use another bank as a second advising bank to advise the beneficiary. If a bank cannot verify authenticity, it must inform the sending bank without delay.

    Copyright:

    © All Rights Reserved
    Download as PPT, PDF, TXT or read online from Scribd
    Download as ppt, pdf, or txt
    50 views7 pages

    Advising of Export L/C: Nazmul Karim, CDCS

    Uploaded by

    Nazmul Karim
    An advising bank advises the terms of an export letter of credit and any amendments without undertaking an obligation to honor or negotiate it. By advising the credit, the bank signifies it has verified the apparent authenticity of the document. An advising bank can use another bank as a second advising bank to advise the beneficiary. If a bank cannot verify authenticity, it must inform the sending bank without delay.

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    Advising of Export L/C

    Nazmul Karim, CDCS


    Advising of Export L/C
     UCP 600 - Article 09
    Advising of Export L/C
    a. A credit and any amendment may be advised to a beneficiary through an
    advising bank. An advising bank that is not a confirming bank advises the
    credit and any amendment without any undertaking to honour or
    negotiate.
    b. By advising the credit or amendment, the advising bank signifies that it
    has satisfied itself as to the apparent authenticity of the credit or
    amendment
    c. An advising bank may utilize the services of another bank (“second
    advising bank”) to advise the credit and any amendment to the
    beneficiary.
    d. If a bank is requested to advise a credit or amendment but elects not to
    do so, it must so inform, without delay, the bank from which the credit,
    amendment or advice has been received
    Advising of Export L/C
    e. A bank utilizing the services of an advising bank or second advising bank
    to advise a credit must use the same bank to advise any amendment
    thereto.
    f. If a bank is requested to advise a credit or amendment but cannot satisfy
    itself as to the apparent authenticity of the credit, the amendment or the
    advice, it must so inform, without delay, the bank from which the
    instructions appear to have been received. If the advising bank or second
    advising bank elects nonetheless to advise the credit or amendment, it
    must inform the beneficiary or second advising bank that it has not been
    able to satisfy itself as to the apparent authenticity of the credit, the
    amendment or the advice.
    Questions?
    THANK YOU

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