Hello
issuing bank writes on opening L/C that
pls.collect all your charges from beneficiary ucp 37/c does not apply.
it is acceptable and valid. What must be happen at the beneficiary's bank side if beneficiary does not pay advising charges or any other.
UCP 37/C
-
Navi
- Posts: 362
- Joined: Mon Jun 23, 2008 4:17 pm
- First Name: Olcay
- Last Name: Özcan
- Organization: Bank
- Filter: Two Plus Two =: 4
- Location: Turkey
Obey LC terms..
Dear Metin,
.
The LC clearly excludes 37c and states that you should collect your charges from beneficiary. In my opinion, if you advise LC to beneficiary under this term, it means you accepted that condition. You cannot revert unpaid charges to issuing bank. You had better contact beneficiary before advising LC and decide accordingly whether to advise. Or before advising request issuing bank to amend that term.
.
REgards
.
The LC clearly excludes 37c and states that you should collect your charges from beneficiary. In my opinion, if you advise LC to beneficiary under this term, it means you accepted that condition. You cannot revert unpaid charges to issuing bank. You had better contact beneficiary before advising LC and decide accordingly whether to advise. Or before advising request issuing bank to amend that term.
.
REgards