2.1.2 Business Scenario
Scenario 1 - Credit Compliant Doc Submission
Issuing bank received Documents from Negotiating bank, and scrutinizes the docs. If the docs are Credit Compliant, Send MT740 during while booking the Bill (Sight) to the Reimbursing Bank (If the Payment is routed through reimbursing Bank) & Mark Bills as Credit Compliant.
On Maturity Issuing bank Debit the Customer & credit the Nostro for the Bill Amount.
Issuing bank or Reimbursing bank (If Payment is routed thru reimbursing bank) generates 756 to Negotiating bank.
Parent topic: Product Code - ISLP