hi..
we have a 30 day LC.its maturity date is apr.15. Goods were deliverd to the applicant 18 days earlier.The LC papers have been submitted to the applicants bank more than 2 weeks ago.bank stated discrepancy in the LC..The applicant has been notified of the discrepancies...but have not sent their acceptance yet...so i wanted to know how are my payments secured in this case?? what can be done to get my payments as soon as possible??plz help
disrepencies not being accepted by the applicant.
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joshua
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- First Name: josh
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jmitra
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- First Name: jasmit
- Last Name: mitra
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terminology
dear josh,
there is serious problem with the LC terminology you used which creates problem for us to understand. the thing i understood that you have presented discrepant document under a letter of credit and the issuing bank refused the documents. the applicant has not provide its waiver yet. very limited information to comment. if i take that the issuing bank has performed its role as per UCP600, there is nothing you can do but to wait for the waiver of the applicant. if the goods are already released to the applicant, then you are in problem im sorry to say.
there is serious problem with the LC terminology you used which creates problem for us to understand. the thing i understood that you have presented discrepant document under a letter of credit and the issuing bank refused the documents. the applicant has not provide its waiver yet. very limited information to comment. if i take that the issuing bank has performed its role as per UCP600, there is nothing you can do but to wait for the waiver of the applicant. if the goods are already released to the applicant, then you are in problem im sorry to say.