ICC Opinion: Direct Payment to Beneficiary by Issuing Bank After Document Presentation – R796(TA825rev)
ICC Rules Study_ International Chamber of Commerce Opinion This is a dispute caused by the issuing bank’s error in making a direct payment to the beneficiary: R796 The nominated bank makes a prepayment under its deferred payment undertaking; at maturity, no reimbursement is received; the issuing bank subsequently advises that it has effected settlement to … Read more