Obligations of Branch Operations

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Posted in DC-Pro on May 21, 2001 at 12:25:30 AM

Article 2 of the UCP 500, branches of a bank in the same country are considered as the same bank. A branch in a different country is considered another bank.

Please note that as Article 2 of UCP 500 says, it is "for the purpose of these Articles only". It does not apply to law, that overrides the UCP.

Under the law, a bank may be and may be not the same legal entity, all depending on ...

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