1 Acceptance by the confirming bank is immediate whereas acceptance by the issuing bank may take 714...

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1 Acceptance by the confirming bank is immediate whereas acceptance by the issuing bank may take 7–14 days.

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Finance Of International Trade

ISBN: 9780750659086

1st Edition

Authors: Eric Bishop

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Question Posted: Oct 18, 2024 09:00 AM

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1 Acceptance by the confirming bank is immediate whereas acceptance by the issuing bank may take 714 days.
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3 In addition, the confirming bank will continue to record a risk against the issuing bank for the amount of the credit, thereby using up a valuable facility.
2 The accepted bill can be discounted immediately by the confirming or any other bank, with obvious advantages to the beneficiary.
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1 Acceptance by the confirming bank is immediate whereas acceptance by the issuing bank may take 714...

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Finance Of International Trade

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