Lc Advising charge

Lc Advising charge

Postby kapilbd on 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?
kapilbd
 
Posts: 5
Joined: Sat Jan 02, 2010 9:39 am

issuing bank has to pay

Postby iLC on 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
iLC
 
Posts: 434
Joined: Thu Jun 26, 2008 10:33 pm

Pay them from your own pocket :D:D

Postby WARLORD77 on Wed Mar 10, 2010 11:05 am

You have to pay them on your Bank cost :P this is LC world.
WARLORD77
 
Posts: 36
Joined: Mon Feb 08, 2010 6:43 pm


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Also See

Trade Library

Comments to Commentary on UCP 600” - Kim Christensen

Documentary & Standby Letters of Credit  - Robert J. Spjut

Introduction to Bill of Lading - Karen Troy-Davies

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DC Master -  coastlinesolutions.com

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