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What does ""TT Reimbursement not allowed" means in an LC?

Retail Banking Trade Finance
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Question added by Meeta Sharma , Operations and Trade Finance Documentation Officer , MS STEEL INTERNATIONAL FZCO
Date Posted: 2015/11/10
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Mustafa Nabil El Framawy
by Mustafa Nabil El Framawy , Chief Accountant ( CDCS ) , Combined Group Contracting Co KSC

TT Reimbursement not allowed means that the nominated bank is not authorized to claim reimbursement from the reimbursing bank. this clause have no value if the credit does not include a reimbursement instruction.

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