Letter of credit, Commerzbank

The letter of credit must be notified to the beneficiary by the advising bank and must have the original confirmed by the advising bank, otherwise it will be invalid.

As for this kind of telephone notification, and telling you what the original is at headquarters, it is obviously fraud!

After analysis, you can peel off the painted skin:

1. The original letter of credit is the proof of negotiation between the beneficiary and the negotiating bank, so the original letter of credit must be handed over to the beneficiary; Since the original letter of credit is the basis for the beneficiary's negotiation, what is the use of the issuing bank to keep the original letter of credit? Then, what does it say that "the original letter of credit is at the headquarters"?

2. Even if the letter is opposite, it must be mailed to the advising bank, which will confirm the authenticity of the letter of credit after confidentiality review, and then notify the beneficiary of the letter of credit-this can ensure the authenticity of the letter of credit; At present, all letters of credit are opened by SWIFT, and the advising bank will also check the password to confirm the authenticity of the letter of credit. Then, how to confirm the authenticity of the letter of credit without the screening of the advising bank? -isn't this obvious deception?

3. The letter of credit is to negotiate documents through the negotiating bank, that is, the negotiating bank sends the documents to the issuing bank through the proper inter-bank channel, thus ensuring the legal procedures for the delivery of documents and the obligation of the issuing bank or the receiving bank to be responsible for the documents after receiving them. Without this layer of safeguards, then the delivery of documents is not guaranteed? The beneficiary sends the documents directly to the issuing bank. In the absence of any guarantee, how to ensure that you can pick up the goods directly without paying? -What's cheating? Isn't it obvious?

Therefore, from the above analysis, it can be seen that this obviously does not conform to the operating norms of letters of credit. So, don't believe this nonsense-if you send them the documents directly, wouldn't you just give them the goods directly? At that time, not only will the payment not be received, but even the goods will be delivered for nothing.