Query to LCM: Is it appropriate to draw against a guarantee?


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Query to LCM (LC Monitor):

Dear Kim,

We come across a case, it seems hard to give the customer some helpful suggestion.

We would like to have some expert opinion from the LCM group if appropriate.

Thanks and best wishes

S.


1st Response from T.O. Lee:

Dear All,

I would like to share my experience from Hong Kong high court.

We have two separate cases from one and the same client, one dispute is from LC and another from sales contract.

LC deals with ...


Comment from an LCM Reader:

Dear experts,

there's no doubt that the beneficiary can claim and both transactions are independent. But the question is ...


Sincerely yours,
L. Y.
Banking Institutions Department
Deputy Head/
Head of Documentary Business & Guarantees


Response from T.O. Lee regarding the Comment above:

Dear L. Y.,

If the goods are really defective, we may ...

T. O.

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