Negligence on part of transferring bank
Posted: Thu Oct 11, 2001 1:00 am
I would be grateful for your comments on this recent case of mine:-
When the nominated bank H transferred (full transfer) the credit to our client, a number of mistakes & omissions were made…e.g. applicant's name wrongly spelled, issue date of credit not disclosed,etc.
As it was a full transfer, H instructed that all docs are to be forwarded by the transferee's bank to the DC opening bank directly & that their advice is given for guidance only without any obligation on their part.
I am curious as to whether H is liable if discrepancies are raised as a result of our client acting on their advice.
Thank you.
When the nominated bank H transferred (full transfer) the credit to our client, a number of mistakes & omissions were made…e.g. applicant's name wrongly spelled, issue date of credit not disclosed,etc.
As it was a full transfer, H instructed that all docs are to be forwarded by the transferee's bank to the DC opening bank directly & that their advice is given for guidance only without any obligation on their part.
I am curious as to whether H is liable if discrepancies are raised as a result of our client acting on their advice.
Thank you.