Lc Advising charge

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kapilbd
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Lc Advising charge

Post by kapilbd » Tue Mar 09, 2010 11:05 pm

hi,

Advising bank seek his advising charge form Applicant because he didn't collect his charge form beneficiary.In the mean time lc expired subsequently applicant close his business with the issuing bank.

In this situation how could issuing bank apply clause 37c of UCP 600?

iLC
Posts: 504
Joined: Thu Jun 26, 2008 10:33 pm

issuing bank has to pay

Post by iLC » Wed Mar 10, 2010 8:34 am

please refer to UCP article 37c

A bank instructing another bank to perform services is liable for any commissions, fees, cost of expenses ("charges") incurred by that bank In connection with its instructions.

it does not matter whether the credit expires or the applicant closes its business

WARLORD77
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Pay them from your own pocket :D:D

Post by WARLORD77 » Wed Mar 10, 2010 11:05 am

You have to pay them on your Bank cost :P this is LC world.

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