1 The beneficiary may request the nominated bank to add its confirmation but although the issuing bank...
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1 The beneficiary may request the nominated bank to add its confirmation but although the issuing bank has either authorized confirmation or has made no mention of it, the nominated bank declines to assume the risk on the issuing bank. In that situation it is not uncommon for the beneficiary to approach another bank and request it to confirm the credit. If it does so, that bank is a silent confirmer, unless it takes the precaution of obtaining the agreement of the issuing bank.
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