Regarding Payment Instruction

[mijanlt23004]

Dear Expert,
Issuing Bank issue a credit on sight basis, available with any bank in Beneficiary's country. Shipment made by air. Beneficiary present one set of docs directly to Applicant. As Emergency need applicant applied for NOC (Delivery Order) with a acceptance letter for discrepancies. Issuing Bank Endorsed shipping docs and provide NOC in favor of applicant. Goods also released. Afrer Expiry of the LC beneficiary present docs directly to Issuing Bank without clear Bank details for payment/Payment instruction. Issuing Bank Contacted through Advising Bank as well as through other bank (as available) advising Bank does not response and other bank can not trace the beneficiary. Payment not made.
.
a)As docs presented after Expiry of the Credit Is Issuing Bank bound to pay?
b) What type of liability born by issuing Bank for issuing NOC (Delivery Order)?
c) How can issuing Bank effect payment (Alternative Way)?
.
Thanks

[picant]

Hi Pal,

having issued a goods release letter to the Airline Company or a forwarder, the issuing bank(I think consignee in the AWB)
is obliged to pay.If the remitting bank has not indicated the correspondent bank, where to be credited, it may consult Bankalmanace or the like and provide to remit the proceeds to one of the banks there included. Anyway, if are USD or EUR amount the banks in USA or EUROPE have experience to pay the correct bank.
Then, no contact or claim from the beneficiary's part? Something not so clear?
Let us know.
Ciao