What Is a Nominated Bank Under UCP 600?
What a nominated bank is under UCP 600, and what nomination does and does not oblige it to do.
Reviewed by LCCheck team (owner-approved) · 2026-10-12
Short answer
A nominated bank is the bank with which the Letter of Credit is available (MT700 field 41a), or any bank for a credit available with any bank (UCP 600 Art. 2). Nomination authorises it to honour or negotiate, but does not oblige it to unless it has expressly agreed or confirmed (Art. 12(a)).
| MT700 | Field 41a Available With … By … |
|---|---|
| Obliged to pay? | Only if it agrees or confirms (Art. 12(a)) |
| Presentation | Can be made to it to meet the deadline (Art. 6) |
Why it matters
- Presenting to the nominated bank in time meets the deadline.
- The issuing bank must reimburse a nominated bank that honoured or negotiated (Art. 7(c)).
Check
- Which bank is named in 41a.
- Whether it is in your country.
- Whether it will actually pay or negotiate.
Sources
- ICC — UCP 600 (Uniform Customs and Practice for Documentary Credits)
- Swift — MT700 Issue of a Documentary Credit (category 7 standards)
General guidance, not legal advice. Your bank examines documents independently.
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