Pre-Debit Notification & Issuing Bank Gave Debit Authority

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dinesh2476
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Pre-Debit Notification & Issuing Bank Gave Debit Authority

Post by dinesh2476 » Sat May 04, 2013 2:26 pm

Dear Experts,

29-April-2013

letter of credit has pda for 4 days. since documents were discrepant we had forwarded them to issuing bank on approval basis. Now We have received authority from issuing bank to debit their account without mentiioning the value date. Shall we debit the issuing bank account today(29 april 2013) or we shall inform the issuing bank on the date of debit(29 april 2013 plus 3 days pda as per lc terms)

Regards
Dinesh

ismailgzr
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consent of issuing bank

Post by ismailgzr » Sat May 04, 2013 10:21 pm

Hi,

In my opinon, you should call another authorization or wait for 4 days and then debit the acccount of issuing bank for docs amout.

Best regards

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berry
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pre-notification of reimbursement claim

Post by berry » Mon May 06, 2013 10:30 pm

Hi,

a discrepancy in the document does not alter the requirement of the LC for pre-notification of reimbursement claim. Thus in my opinion you should give a notification to the issuing bank.

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