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The new Basel III international banking laws  

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     The seller must provide POP before the BUYER'S BANK can deliver POF

      2.    Please note then that no bank is allowed to open any bank instrument:  BG, LC, SBLC, RDLC etc.) unless the full POP package is sent to the bank with a signed contract

      3.   Also, please note that seller's banks cannot confirm POP. 

      4.   They can only confirm that they hold documents which they believe are proof of product.

      5.   It will remain the duty of the buyer to verify the validity of any such POP in conjunction with their bank.  


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