Responsibilities and Liabilities of Beneficiary(exporter):
i) The beneficiary has the obligation to make export as per the contract and produce the documents as required by the credit. He 'can in no case avail itself of the contractual relationships existing between banks or between the applicant and the issuing bank'.
ii) In a transferable credit, if he requires it to be transferred, he should pay the charges of the transferring bank.
Different parties of Letter of Credit
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