Dear All, The principal requests to send collection documents directly to the drawee (Without involvement of presenting/collecting bank) with all the necessary remitting instructions on the collection instructions. Kindly opine if we are allowed to do so under URC 522 and if the remitting bank is co...

Dear Sirs, Bank H had confirmed the LC in Beneficiarys country (Country H) and certified documents complied with the Credit terms and forwarded to issuing bank (Bank B in Country B) claiming the proceeds from the reimbursing bank. The applicant had obtained a court injunction and served it the issui...

Mr. Smith, Beneficiary submitted documents with the interest invoice and interest drafts on 10th of Oct (For e.g) and the negotiating bank dispatched the documents to issuing bank on the 13 th of Oct, the benefiicary had mentioned the libor rate on the interest invoice as on 10th Oct, (assuming so) ...

An LC requests interest invoices and interest drafts for the usance period (180 Days) at libor plus .50 basis points, The beneficiary submits the same but with the libor rate of interest being incorrect, The issuing bank refused the documents stating that the interest calculation is incorrect and ha...

Hi Tuh,
The documents were forwarded on approval basis, subsequently the issuing bank had sent the discrepancy message also, Later they had sent the 799 as stated above,
Kindly advise
Thanks,
Shakir

Issuing bank has sent an authenticated message (799) merely stating the due date along with bill amount without mentioning ' On maturity we shall remit the proceeds', Consequently just before the due date of payment issuing bank returns the full set original documents stating that the applicant has ...

In the light of Article 37 of UCP600,
Is issuingbank still liable to pay the confirmation charges if it is on account of beneficiary where the beneficiary bank has failed to recover charges from the beneficiary at the time of adding confirmation.
Please comment on the same

Dear All We have receiived a swift LC issued vide FIN700 by ABC Bank , under fiield 51A of the LC, applicant bank is mentioned as XYZ bank The issue is whom shall we treat as issuing bank of the credit. We have received a message from ABC bank stating that they are the issuing bank of the credit Pls...

Can we issue MT710 to second advising banks within the same city, if yes what are the pros and cons in the usage of the same
Pls comment

Thanks Kim, for your comment but if you read the LC conditon i have mentioned that the LC requires courier receipt to be attached,
Can youplease comment now
thanks