Discrepant Documents - How Can They Be Returned
Posted: Mon Dec 09, 2013 7:28 pm
Dear colleagues!
Transfferable LC.
2nd bene submits discrepant documents and insists on sending them (yes- we, Advising bank, should have said no at the very begining, but on the other hand- goods were on their way and usually seller and buyer have good relations and buyer waives discrepancies).
1st bene accepts the documents and Transff. bank forwards them to the Issuing bank.
Issuing bank replies: /notify/. Transff. bank forwards the msg /notify/ to Advising bank.
2nd bene has info that there will be no payment.
2nd bene asks to return the documents.
1st bene gives no instructions to the Transffr. bank. Accordingly the Tarnsff. bank can not give instructions to the Issuing bank.
Question: how can the 2nd bene return the documents? We can not find an article from USP600 that gives some rights for the 2nd bene... Goods are stucked in a port of destination... Hopeless
UCP 600 only gives instructions of forwarding documents if 1st bene fails to present its own documents but states nothing in case of return. Is the 2nd bene a hostage of the 1st?
Transfferable LC.
2nd bene submits discrepant documents and insists on sending them (yes- we, Advising bank, should have said no at the very begining, but on the other hand- goods were on their way and usually seller and buyer have good relations and buyer waives discrepancies).
1st bene accepts the documents and Transff. bank forwards them to the Issuing bank.
Issuing bank replies: /notify/. Transff. bank forwards the msg /notify/ to Advising bank.
2nd bene has info that there will be no payment.
2nd bene asks to return the documents.
1st bene gives no instructions to the Transffr. bank. Accordingly the Tarnsff. bank can not give instructions to the Issuing bank.
Question: how can the 2nd bene return the documents? We can not find an article from USP600 that gives some rights for the 2nd bene... Goods are stucked in a port of destination... Hopeless
UCP 600 only gives instructions of forwarding documents if 1st bene fails to present its own documents but states nothing in case of return. Is the 2nd bene a hostage of the 1st?