Case Analysis – Standard Chartered Bank vs. Pakistan National Shipping Corporation
Case Analysis – Standard Chartered Bank vs. Pakistan National Shipping Corporation Parties Applicant (buyer): Vietranscimex Beneficiary (seller): Oakprime Ltd. Issuing Bank (buyer’s bank): Incombank Confirming Bank (seller’s bank): Standard Chartered Bank, London (SCB) Shipowner: Pakistan National Shipping Corporation (PNSC) Flowchart 1- Buyer (Vietranscimex) and Seller (Oakprime) agrees on issuance of a letter of credit. 2- Buyer (Vietranscimex) goes to Issuing...