A.T.M. Nesarul Hoque is EVP at Mutual Trust Bank in Bangladesh. He is a WG member of ISBP 821E, Member of ICC Technical Advisory Briefings (TAB), DOCDEX expert, and DCW EAB member.
How are LC specialists to understand UCP600 Article 38(k) in situations where a second beneficiary bypasses the transferring bank and presents documents directly to the issuing bank? Scenarios, fundamental issues, and a proposal for revising this UCP sub-article are addressed here.
Letters of credit represent the bulk of trade services offered by banks in Bangladesh and the country’s tense governmental transition has been closely watched by the industry. In this article, Bangladesh's political and economic challenges and their impact on trade are considered.
