Draft under LC to be drawn on whom? By Isaac Tudu
Draft under LC to be drawn on whom?
• Draft under LC to be drawn on whom:
– When LC is available with Nominated Bank by sight payment or by acceptance?
– When LC is available with any Bank by sight payment or by acceptance?
– When LC is available with Issuing Bank by sight payment or by acceptance?
– When LC is available with Nominated Bank by negotiation?
– When LC is available with any Bank by negotiation?
– Can LC be made available with issuing bank by negotiation?
• Is draft mandatory for LC available by sight payment or by negotiation?
• When draft is mandatory under LC and when it is not needed at all?
• When draft to be drawn on Nominated Bank, Confirming Bank or Issuing Bank?
• Can sight draft be drawn on Reimbursing Bank?
I have answered all the above questions related to draft under LC in this video.
About Speaker:-
Isaac Tudu, CDCS, CSDG & CITF (Ex-banker with India’s largest Banks i.e. ICICI Bank and State Bank of India having more than 25 years of banking experience in Trade Finance and Credit)
Isaac’s Mission: To help bankers to improve their career and promotion prospects by CDCS certification through “CDCS Exam Preparation Online Course”.
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