reimbursement claim
-
yangkenn
- Posts: 25
- Joined: Wed Apr 07, 2010 1:39 am
- First Name: yang
- Last Name: kenn
- Organization: btmu
- Filter: Two Plus Two =: 4
reimbursement claim
if the claim bank sent it reimbursement claim on march 21 and indicating value date as march 22,2009, the reimbursing bank should back value the claim according to URR725. is it correct?
-
danohng
- Posts: 54
- Joined: Fri Feb 26, 2010 9:43 pm
- First Name: Daniel
- Last Name: Ng
- Organization: Citigroup
- Filter: Two Plus Two =: 4
Reimbursement claim
No. the reimbursement bank will have 3 banking day from the date of receipt of the claim to effect the payment (3 banking days add on if pre-debit notification is require). You may refer to URR 725 article 11 (c) iii - the rules said "whichever is later".
-
yangkenn
- Posts: 25
- Joined: Wed Apr 07, 2010 1:39 am
- First Name: yang
- Last Name: kenn
- Organization: btmu
- Filter: Two Plus Two =: 4
it is helpful
thank you danohng, your reply is very helpful. I already checked the article 11.danohng wrote:No. the reimbursement bank will have 3 banking day from the date of receipt of the claim to effect the payment (3 banking days add on if pre-debit notification is require). You may refer to URR 725 article 11 (c) iii - the rules said "whichever is later".