Letter of Credit Forum

Acceptance by the buyer

In certain countries it is prohibited to issue bills of exchange drawn on
local banks.
Consequently, in these countries, documentary credits are
usually payable against the remittance of a bill drawn on the buyer mentioning
"without recourse against the drawer".
These words indicate that the issuing
bank undertakes to make a definite payment at maturity against presentation and
receipt of documents which comply with the conditions of the
credit.

Please inform me asap

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