What are the options is collection shows wrong drawee name

Simple is Beautiful; the only thing came in my mind when thought of documentary collection. And I think more and more people are thinking the same in these days. Documentary Collection offers us far greater security than selling on open account; but not as much as a documentary credit. We should therefore be more cautious before starting selling using this method of payment. Documentary Collection Forum is an effort to help you on this way – admin; besttradesolution.com
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TradeLaporte
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What are the options is collection shows wrong drawee name

Post by TradeLaporte » Fri Jun 06, 2014 11:17 am

Dear members

What are the remedies when documentary collection is received showing drawee s name incorrect and the remitting bank is not amending the name transaction. Is DA. Customer claim drawee is subsidiary .

Your opinions appreciate

Gul
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advice

Post by Gul » Wed Oct 15, 2014 3:12 pm

theoretically it is not necessary for the drawee to be the customer of the collecting bank.
and it is logically that the subsidiary of your customer is a separate legal entity.
if the subsidiary is not a customer of yours then documents still can be presented to them.
in your case i advice you simply to present the documents to the subsidiary.

LLawrence
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Re: What are the options is collection shows wrong drawee name

Post by LLawrence » Fri Apr 19, 2019 2:29 am

Collection bank can send a cable and advise the correct name. Remiting bank must provide a reason why they can't change. IF it is a subsidiary then it should not be a problem to conduct the transaction

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