Dear All
Field 41a quotes as ''Available with ''CAIXESBBXXX'' where as the lc issuing bank is also ''CAIXESBBXXX''' and the export documents under lc has been presented at our bank name ABC Bank India Kindly confirm if the LC is available with CAIXESBBXXX can ABC bank india handle the documents.
LC Available With Issuing Bank; Can Any Bank Handle Document
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- mohiuddin
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Abailability
Dear sandeep_mt,
Yes your bank can handle this export document and forward Doc. to the LC issuing and off course Document must reach to the LC issuing bank counter within the Expiry of the LC.
Your bank just collecting agent.
Just thought: Bank A is LC issuing bank, Bank B Add confirming bank of this LC, If beneficiary present document to your bank (your bank not nominated bank) what your bank is doing. Your bank forward document to Bank B or Bank A.
other comments appreciated.
Mohiuddin
Yes your bank can handle this export document and forward Doc. to the LC issuing and off course Document must reach to the LC issuing bank counter within the Expiry of the LC.
Your bank just collecting agent.
Just thought: Bank A is LC issuing bank, Bank B Add confirming bank of this LC, If beneficiary present document to your bank (your bank not nominated bank) what your bank is doing. Your bank forward document to Bank B or Bank A.
other comments appreciated.
Mohiuddin
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Availability
Thanks Mohiuddin
But in this case we can only forward the documents but we cant nogotiate is it?.
But in this case we can only forward the documents but we cant nogotiate is it?.
- mohiuddin
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Availability
Sandeep,sandeep_mt wrote:Thanks Mohiuddin
But in this case we can only forward the documents but we cant nogotiate is it?.
You wrote field 41a quotes as ''Available with ''CAIXESBBXXX'' by what?
Can u provide ........ please
Mohiuddin
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Availability
''Available with ''CAIXESBBXXX'' /BY PAYMENT. What will be the scenario if it is available by negotiation.
- mohiuddin
- Posts: 166
- Joined: Tue Aug 28, 2012 10:37 am
- First Name: Mohiuddin
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- Organization: Bank Asia Limited
- Filter: Two Plus Two =: 4
- Location: Dhaka, Bangladesh
Availability
Sandeep,sandeep_mt wrote:''Available with ''CAIXESBBXXX'' /BY PAYMENT. What will be the scenario if it is available by negotiation.
As per Sub-Art. 7 of UCP600
"a. Provided that the stipulated documents are presented to the nominated bank or to the issuing bank and that they constitute a complying presentation, the issuing bank must honour if the credit is available by: ........
So issuing bank only can HONOUR,
If field 41A of SWIFT MT700 stated Available with CAIXESBBXXX / by negotiation, then need amendment of said LC as per UCP600 art.7.
IMO, in this scenario your bank not negotiated above document.
Mohiuddin