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CIMB Bank and China CITIC Bank announce new BPO transaction

13/07/2014 CIMB Bank has announced that it became the first Malaysian bank to complete a BPO transaction. The transaction was completed in collaboration with China CITIC Bank. As a result, there are now 12 banks that can be considered "live BPO banks".

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Recent News

Autumn 2025 Newsletter added to the Members Trade Information section 31/10/2025

This newsletter covers the 6 opinions that were approved by the ICC Banking Commission on 21 October...more

Collyer Consulting Trade Finance Masterclass to return to Dubai in 2026 18/09/2025

The widely acclaimed MasterClass event (a two-day event) will return to Dubai in 2026...more

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A freely negotiable credit stipulated in field 42C (draft at) : sight for 100pct of invoice value quoting credit no. and date. 42A (drawee): issuing bank 46A: invoice, packing list, bill of lading, etc. Field 78: Upon receipt of documents and drafts (if any) at our counter in compliance with terms and conditions of the credit, we will honour. Questions: 1. If the presented draft is not signed by the beneficiary, can the issuing bank refuse the presentation based on the ONLY discrepancy ”draft not signed by the beneficiary"? and why? 2. If the answer to question 1 is yes, after the issuing bank refused the presentation, the beneficiary substituted the draft with duly signed new draft, must the new draft be presented within the presentation period stipulated in the credit, otherwise, the presentation is still discrepant?