I have the case as follow:
L/C states:
“USD50.00 OR EQUIVALENT OF DISCREPANCY FEE SHOULD BE DEDUCTED FROM THE PROCEEDS FOR EACH DISCREPANT SET OF DOCS PRESENTED UNDER THIS L/C”
1st present: Docs present with discrepancy. Issuing bank charges Presenter discrepancy fee.
2nd present: Docs present with discrepancy. Issuing bank charges Presenter discrepancy fee.
3rd present: Docs present comply with.
Question:
Is it right when Issuing bank charges Presenter discrepancy fee 2 times (1st present and 2nd present)?
Does the 2nd present consider “substitute” for the 1st present or as one time present.
Hope to receive your comment!
Presentation and Discrepant in set of docs
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THI THUY MYT_
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GlennRansier_
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Presentation and Discrepant in set of docs
Fee questions are difficult to respond to. In this case, a set of corrected documents will still need to be examined. If the corrected presentation contains a new discrepancy the bank could be entitled to a new discrepancy fee. It would depend upon their internal policies.
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HOANGTHIANHTHU_invalid
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Presentation and Discrepant in set of docs
I totally agree with Glenn.
Regards,
N.H.Duc
Regards,
N.H.Duc
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THI THUY MYT_
- Posts: 49
- Joined: Fri Apr 05, 2019 5:15 pm
Presentation and Discrepant in set of docs
Tks for your comment.
More details about this case.
So finally the docs comply with (at the 3rd present). Is it acceptable when Issuing bank charges discrepancy fee for the 1st and 2nd present?
I think it depends on "standard pratice" of each bank.
More details about this case.
So finally the docs comply with (at the 3rd present). Is it acceptable when Issuing bank charges discrepancy fee for the 1st and 2nd present?
I think it depends on "standard pratice" of each bank.
Presentation and Discrepant in set of docs
Hi,
I think it depends on the status of docs for each time of presentation.
If the first one is not a complying presentation then the issuing bank could return documents and ask to be paid for the discrepancy charge.
Supposed the beneneficiary corrects the noted discrepancies and makes another presentation. Unfortunatedly, the later is still not a complying one and includes some new discrepancies that has not existed in the earlier. Therefore I think the issuing bank is entitled to claim for another discrepancy fee incurred. It is just the logic i am thinking.
ThuyPTB
I think it depends on the status of docs for each time of presentation.
If the first one is not a complying presentation then the issuing bank could return documents and ask to be paid for the discrepancy charge.
Supposed the beneneficiary corrects the noted discrepancies and makes another presentation. Unfortunatedly, the later is still not a complying one and includes some new discrepancies that has not existed in the earlier. Therefore I think the issuing bank is entitled to claim for another discrepancy fee incurred. It is just the logic i am thinking.
ThuyPTB