We, a negotiating bank, negotiated docs under a credit, where docs are required to be sent to issuing bank in two lots.
However, as a practice in our country, we sent docs to issuing bank in one lot despite the credit condition.
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In this rgds, issuing bank advised us of the refusal msg stating "docs were sent in one lots I/O two lots"
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could it be a discrepancy?
If so, any evidence from ICC could be recommended to determine that such problem constituting a discrepancy ?
Two lots are requored to be sent to issuing bank.. however,
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SOOEYOUNKIM
- Posts: 23
- Joined: Fri Apr 05, 2019 5:14 pm
Two lots are requored to be sent to issuing bank.. however,
This is not a discrepancy, as, presumably, the documents comply with the credit terms and therefore the documents themselves canot be rejected.
You are however in breach of the bank-to-bank instructions for disposal of the documents and would have placed yourselves at risk should the documents have not arrived. In simple terms, you got away with it this time round.
The example you quote is covered by 470/TA.768Final.
You are however in breach of the bank-to-bank instructions for disposal of the documents and would have placed yourselves at risk should the documents have not arrived. In simple terms, you got away with it this time round.
The example you quote is covered by 470/TA.768Final.