Why This Bangladeshi Bank Use The Bank In UK As Receiver Instead Of Using A Bank In Australia?

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Saifullah
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Why This Bangladeshi Bank Use The Bank In UK As Receiver Instead Of Using A Bank In Australia?

Post by Saifullah » Tue Sep 26, 2017 5:23 pm

Dear All,
Situation:
I have opened a Lc from my bank in bd in favor of the seller in Australia to import some items.I have seen in the swift format Lc the receiver is a bank from london ,and the advise through bank in 57a(Advise through Bank) the Australian bank. As per I know the the Bangladeshi bank has RMA with the receiver bank in UK.That is why they send through the swift through the UK bank.Thus it becomes the 1st advising bank and the sellers bank in Australia becomes the 2nd advising bank.
Q: 1 - why this Bangladeshi bank use the the bank in UK as receiver instead of using a bank in Australia as receiver ,,is this because they do not have RMA with any bank in Australia.
Q:2- If any amendment needed in the Lc as per i know massage transmission in the same format as the lc transmitted once it was send by the issuing bank in bd .But the documents should be submitted from sellers bank in Australia to issuing bank in Bangladesh . help me to clear about my confusion.

Regards
Saifullah

L59099
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Re: Why This Bangladeshi Bank Use The Bank In UK As Receiver Instead Of Using A Bank In Australia?

Post by L59099 » Sat Sep 30, 2017 11:35 pm

for Q1: it's possible to guess that the issuing bank in Bangladesh had restricted relationship (RMA) with other banks; so they must transfer the LC to the UK bank they already have the nostro there
for Q2: a presentation of docs are sent from the Australia bank to the issuing bank is ok then
other comments for my reply appreciated, thanks

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picant
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Re: Why This Bangladeshi Bank Use The Bank In UK As Receiver Instead Of Using A Bank In Australia?

Post by picant » Sun Oct 01, 2017 11:45 am

Hi Pals,

not known if there are business agreements between banks or Bangladesh Bank has not RMA with
banks in Australia, but I am sure that the advising bank in that one indicated in field 57A.
Second advising bank may occurr when the field 57A is not completed. The receiving bank after contacting the beneficiary, may routes the l/c to the bank indicated by the beneficiary, by
MT710.
Recently Swift changed the name of field 57A in "Second advising bank" in a draft proposal, but in the last proposal issue the field has been newly indicated as "advise through bank".
The importance, for beneficiary, is that the l/c will be available in Australia,?
Let me know:
Ciao

Saifullah
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Re: Why This Bangladeshi Bank Use The Bank In UK As Receiver Instead Of Using A Bank In Australia?

Post by Saifullah » Sun Oct 01, 2017 6:23 pm

I am Attaching the LC copy please see it yes the L/C will be available in Australia which is the sellers bank.
Attachments
L-C-1.jpg
L/C PAGE 1
L-C-3.jpg
L/C PAGE 2
L-C-2.jpg
L/C PAGE 3

Saifullah
Posts: 7
Joined: Tue Sep 26, 2017 1:42 am
First Name: Ahmed Saifullah
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Location: Bangladesh

Re: Why This Bangladeshi Bank Use The Bank In UK As Receiver Instead Of Using A Bank In Australia?

Post by Saifullah » Sun Oct 01, 2017 6:27 pm

Plzz see
Attachments
L-C-5.jpg
L/C PAGE 5
L-C-4.jpg
L/C PAGE 4

Saifullah
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Re: Why This Bangladeshi Bank Use The Bank In UK As Receiver Instead Of Using A Bank In Australia?

Post by Saifullah » Sun Oct 01, 2017 6:29 pm

I m sending my past L/C not the recent one

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picant
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Re: Why This Bangladeshi Bank Use The Bank In UK As Receiver Instead Of Using A Bank In Australia?

Post by picant » Sun Oct 01, 2017 7:52 pm

Hi Pal,

the l/c is expiring in Australia as per field 31D and available by negotiation with any bank,
requiring 2 draft, one as document. Presentation of a Credit report on beneficiary's is necessary,
Probably delivery terms is CFR . The losing of documents, art 35 is mitigated by sending docs
in two sets. Not known reason of transmitting the l/c via Stanchart?
I dont see an issue a part goods of German origin sold in Australia-but no problems for banks.
Other comments appreciated
Ciao

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