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Presentation – Parties to the Letter of Credit

Presentation – Parties to the Letter of Credit

Issuing Bank Issuing Bank is the bank that issues a letter of credit at the request of an applicant or its own behalf. Letter...
Correct Addresses of the Beneficiary and the Applicant

Correct Addresses of the Beneficiary and the Applicant

When the addresses of the beneficiary and the applicant appear in any stipulated document, they need not be the same as those stated in...
Partial Acceptance of Amendments

Partial Acceptance of Amendments

According to the letter of credit rules, the beneficiary should communicate its acceptance of the amendment to the bank that advised such amendment. The beneficiary...
Effectiveness Date of an Amendment

Effectiveness Date of an Amendment

Letter of credit is an irrevocable and conditional payment obligation of the issuing bank. As the letter of credit is irrevocable, its terms and conditions...
commercial invoice discrepancy issuer of the document

Commercial Invoice Not Issued by the Beneficiary Discrepancy

A commercial invoice is a trade document, which is generally prepared during the shipment stage. A commercial invoice is a required document for the export...
parties to letter of credit

Parties to Letters of Credit

This page deals with the parties of the letter of credit. Main parties of a typical letter of credit transaction are applicant, beneficiary, issuing bank, confirming bank, nominated bank,...
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