A beneficiary has presented a full set of documents under a Credit issued by Bank A confirmed by Bank B provided for deferred payment at 180 days after B/L date to the Nominated Bank C, it examined documents which were complied with the terms and conditions of the credit, it incurred a deferred payment undertaking and at the request of beneficiary, it has discounted and prepaid net amount to the beneficiary. Then it forwarded a full set of documents by courier to the Confirming Bank B for reimbursement at maturity. After some days Nominated Bank C discovered that the beneficiary has escaped for his delivery of a part of forgery documents.
On the maturity date in accordance with UCP 600 Article 8a and 8c the confirming Bank B ______ to the Nominated Bank C, because UCP 600 Article 8c stipulates: "A confirming bank's undertaking to reimburse another nominated bank is independent of the confirming bank's undertaking to the beneficiary."
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