What if the nominated bank overlooked a discrepancy?
The nominated bank that negotiated bears the consequence. If it negotiated with recourse it can claim back from the beneficiary; if it confirmed, it absorbs the loss and cannot pass it on.
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The nominated bank that negotiated bears the consequence. If it negotiated with recourse it can claim back from the beneficiary; if it confirmed, it absorbs the loss and cannot pass it on.
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