TWO RESPONSIBILITIES OF THE ADVISING BANK i To have apparent authenticity of

Two responsibilities of the advising bank i to have

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TWO RESPONSIBILITIES OF THE ADVISING BANK i. To have apparent authenticity of the credit or amendment. ii. To accurately advice the terms Sub-article 9(b) Explanation and conditions of the credit or amendment received.
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What does it mean ‘accurately reflects the To satisfy the requirement of the ‘advice accurately reflecting’, the advising or second advising bank is responsible for ensuring what is received by it- at a minimum, the Sub-article 9(b) Explanation terms and conditions’? information pertinent for the beneficiary to perform under the documentary credit- is advised to the beneficiary.’ UCP 600 DRAFTING GROUP Article 9 (c) Advising of Credits and Amendments ‘An advising bank may utilize the services of another bank (“second advising bank”) to advise the credit and any amendment to the beneficiary. By advising the credit or amendment, the second advising bank signifies that it has satisfied itself as to the apparent authenticity of the advice it has received and that the advice accurately reflects the terms and conditions of the credit or amendment received.’ Advising by a second advising bank An advising bank may utilize the services of another bank ("second advising bank") to advise the credit and any Sub-article 9(c) Explanation amendment to the beneficiary. Advising by a second advising bank By advising the credit or amendment, the second advising bank signifies that it has satisfied itself as to the apparent authenticity Sub-article 9(c) Explanation of the advice it has received and that the advice accurately reflects the terms and conditions of the credit or amendment received.
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Sub-article 9(c) Explanation Significance of Advising by a second By advising the credit or amendment, the second advising bank signifies: (i) that it has satisfied itself as to the apparent authenticity of advising bank apparent authenticity of the advice it has received and (ii) that the advice accurately reflects the terms and conditions of the credit or amendment received (from the first advising bank). First Advising Bank Second Advising Bank The first advising bank signifies that: ° it has satisfied itself as to the The second advising bank signifies that: ° it has satisfied itself as to the FIRST ADVISING BANK VS SECOND ADVISING BANK apparent authenticity of the credit or amendment it has received from the issuing bank. ° the advice accurately reflects the terms and conditions of the credit or amendment received from the issuing bank. apparent authenticity of the advice it has received from the first advising bank. ° the advice accurately reflects the terms and conditions of the credit or amendment received from the first advising bank. Article 9 (d) Advising of Credits and Amendments A bank utilizing the services of an advising bank or second advising bank to advise a credit must use the same bank to advise any amendment thereto.’ Using same channel for advising A bank utilizing the services of an advising bank or second advising bank to advise a credit
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