Negotiation bank The bank that (1)receives and examines the beneficiary's documents for adherence to the terms and conditions of the lc 经贸学觊国贸系 王学◎
经贸学院国贸系 王学惠 © Negotiation Bank The bank that (1) receives and examines the beneficiary’s documents for adherence to the terms and conditions of the L/C
(2) gives value to the beneficiary, so long as the terms of the credit have been met and 3 forwards them to the suing bank 经贸学觊国贸系 王学◎
经贸学院国贸系 王学惠 © (2) gives value to the beneficiary, so long as the terms of the credit have been met and (3) forwards them to the issuing bank
Reimbursing Bank (r The bank from which the paying accepting or negotiating bank may request cover after receipt of the documents in compliance with the documentary credit 经贸学觊国贸系 王学◎
经贸学院国贸系 王学惠 © Reimbursing Bank The bank from which the paying, accepting or negotiating bank may request cover after receipt of the documents in compliance with the documentary credit
Confirming bank Is the bank which adds its confirmation (an undertaking to pay which is independent of the opening banks obligation to do so) to the L/C. It will be generally the advising bank but not necessarIly SO 经贸学觊国贸系 王学◎
经贸学院国贸系 王学惠 © Confirming bank Is the bank which adds its confirmation (an undertaking to pay which is independent of the opening bank’s obligation to do so) to the L/C. It will be generally the advising bank but not necessarily so
1. 4 Principles and theory Contract Buyer Seller Goods Debit Payment Letter of credit Application etter of credit Documents Documents Buyer's Bank 王学惠◎
经贸学院国贸系 王学惠 © 1.4 Principles and theory