Late Presentation, Discrepancies, Authority to Negotiate a Straight DC

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Outline of this Expert's Report
Purpose
Qualification

Professional Competence

International Exposure

Consultancy Services

Training and Development

Professional Publications

The Fact

Documents

The Issues

Should the alleged discrepancies be considered as material discrepancies?

What is the status of the Second Advising Bank Japan after accepting documents from the Beneficiary? A Presenting Bank or a Negotiating Bank?

Has the Second Advising Bank Japan any authorization to negotiate the documents under the Credit?

What will be the position of the Second Advising Bank Japan if it "negotiates" or purchases the documents without the authorization of the Issuing Bank?

Has the Issuing Bank any liability to effect payment to the Second Advising Bank Japan?

Can the Second Advising Bank Japan claim refund from the Beneficiary if the documents were "negotiated" by it?

What is the position of the Beneficiary regarding the right to obtain payment from the Issuing bank?

Comments on the Issues Above

Conclusion

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