dear sir,
under a letter of credit, we returned a discrepant presentation to the nominated bank. the nominated bank however did not agree with us and resend the document to us claiming payment. they send a letter to this effect with the documents. should we consider this as a new presentation? should we examine the document again?
is it a representation
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Negotiator
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- Last Name: Lee
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Re-sending of documents
Dear Jim,
I quote necessary analysis of DOCDEX Decesion No. 231 here :
The sole party to give instructions as to what is to be done with the documents is the Initiator. Re-sending the documents back to the Respondent is not a new presentation of (corrected) documents. The documents are being returned to the place where they should have remained in the first place, as the Initiator did not request that the documents be returned to it.
I think this analysis gives you pretty good answer.
In any cases, issuing bank would be recommended to review the re-sent documents to make sure that they are exactly same to the presentation made to it once before.
I quote necessary analysis of DOCDEX Decesion No. 231 here :
The sole party to give instructions as to what is to be done with the documents is the Initiator. Re-sending the documents back to the Respondent is not a new presentation of (corrected) documents. The documents are being returned to the place where they should have remained in the first place, as the Initiator did not request that the documents be returned to it.
I think this analysis gives you pretty good answer.
In any cases, issuing bank would be recommended to review the re-sent documents to make sure that they are exactly same to the presentation made to it once before.