Colleagues hi,
What are the possible actions when receiving fraudulent docs under LC?
Docs itself comply to the original letter of credit.
Thank in advance.
What Are The Possible Actions When Receiving Fraudulent Docs Under LC?
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gegeeee
- Posts: 147
- Joined: Fri Jul 05, 2013 5:50 pm
- First Name: Gega CITF, CDCS
- Last Name: Topadze
- Organization: Bank of Georgia
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- Location: Tbilisi, Georgia
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picant
- Posts: 2026
- Joined: Wed Aug 20, 2008 1:49 pm
Very difficult to say......
Hi Pal,
bankers are not Sherlock Holmes or Nero Wolf followers, so it is the applicant that may discover if
the documents are fraudolent, false etc.
With a lawyear help it may requre the Court to issue a seizing order and stop the payment, but if all has been already done... it is hard to do.
But the presenting bank, IMHO, it is not free from liability due to other rules, KYC etc.
Legal advice necessary. Ciao
bankers are not Sherlock Holmes or Nero Wolf followers, so it is the applicant that may discover if
the documents are fraudolent, false etc.
With a lawyear help it may requre the Court to issue a seizing order and stop the payment, but if all has been already done... it is hard to do.
But the presenting bank, IMHO, it is not free from liability due to other rules, KYC etc.
Legal advice necessary. Ciao