Dear associates,

I have received a L/C from Banca UBAE Spa which writes
40 Form of Documentary Credit
40B : IRREVOCABLE
ADDING OUR CONFIRMATION
....
49 CONFIRMATION INSTRUCTIONS
49: WITHOUT

Is the L/C confirmed or not ? by the Italian bank ?

Issueing bank is Faisal Islamic bank , Sudan
Available with and Drawee is
UBAE spa, Roma, Italy

Quoting from [mikeoz]:


Dear associates,


I have received a L/C from Banca UBAE Spa which writes

40 Form of Documentary Credit

40B : IRREVOCABLE

ADDING OUR CONFIRMATION

....

49 CONFIRMATION INSTRUCTIONS

49: WITHOUT


Is the L/C confirmed or not ? by the Italian bank ?


Issueing bank is Faisal Islamic bank , Sudan

Available with and Drawee is

UBAE spa, Roma, Italy

No this is not a confirmed L/C.  Do you normally allow the advising bank to be a bank such as UBAE spa.?   They are not what I would personally consider a well rated bank.  The details are what are important to an L/C and should be discussed by both parties prior to a buyer opening an L/C.  Many times this is considered to be a Pro Forma L/C so that each party understands what the wording will be prior to opening the credit and that each party agrees with the wording.   This saves time and money in ammending the L/C.

Ranger

Replying to [mikeoz]:
Hello. Am in this position to forLetter of Credit..as you mentioned it not confimed it it made to your Comapny, italian bank also bank in sudan??? it confusing it not legitimate letter of credit...please be causious!! Check with lawyer
thanks

Replying to [mikeoz]:

I had seen this question yesterday and immediately wanted to start typing out my response. Then I thought that I'd rather wait to see what Ranger has to say and learn. Glad to see him jump in and clear the air. I would love to add my comments too, may be later....?