Role of a Reimbursing Bank under Letter of credit?

Reimbursing Bank

 

Reimbursing Bank is one of the parties involved in an LC. Reimbursing bank is the party who authorized to honor the reimbursement claim of negotiation/ payment/ acceptance. Reimbursing Bank is the settlement bank between the issuing bank and the nominated bank or the confirming bank.

 

 

 

 

 

 

 

 

 

 

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