Instruction by issuing bank
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Instruction by issuing bank
L/C stipulates that documents should be sent to the issuing bank in two lots. If the beneficiary's bank sent them in one lot, does it cause any discrepancy?
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Instruction by issuing bank
In my opinion no. This is normally stated in case the package is lost in transit which would obviously be a problem if full set of negotiable b/lading presented.
- nesarul
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two lot
dear,
This is an instruction that IB can stipulate in the credit solely for NB in order to get some comfort when doc lost in transit.....in any circumstances, the beneficiary is innocent one....bnf is entitled to be reimbursed fm IB according to sub article 7(c).........
Regards
Nesar
This is an instruction that IB can stipulate in the credit solely for NB in order to get some comfort when doc lost in transit.....in any circumstances, the beneficiary is innocent one....bnf is entitled to be reimbursed fm IB according to sub article 7(c).........
Regards
Nesar
- berry
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if a condition
Hi!
if the clause is stated as a condition of the LC; stated in field 47a, then it must be followed. the issuing bank may raise discrepancy. do all agree with me?
if the clause is stated as a condition of the LC; stated in field 47a, then it must be followed. the issuing bank may raise discrepancy. do all agree with me?
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Instruction by issuing bank
Hello as previously stated this is not a discrepancy.
Have you actually been working in doc credits for long? This is a bank to bank issue and would not even appear in field 47a. It should appear in field 78.
Thanks Jackie
Have you actually been working in doc credits for long? This is a bank to bank issue and would not even appear in field 47a. It should appear in field 78.
Thanks Jackie
- shahriar
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case study 219
was just having a look to the 400 series case studies. here is a quote
Documents' forwarding instructions are from the issuing bank to the paying, accepting, or negotiating bank. They are bank-to-bank matters. Therefore, if the remitting bank does not do what it is told to do in the credit, this does not concern the beneficiary. It is not a discrepancy.
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not a discrepancy but
in my opinion, its not a discrepancy but with this violation the nominated bank is certainly calling in some extra risk; lost in transit. ICC opinion 429 talks on this
This would be subject to the documents being sent in the manner prescribed in the credit, i.e. where the credit states registered mail, the documents are to be sent by that means and not by courier. The risk of sending the documents by a method not requested by the credit rests with the nominated bank and not the beneficiary.
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Instead two lots Nominated Bank sent Docs in one lot
In this case is Nominated (Benef. Bank) is Liable to Beneficiary?