Hi
Bank (A) has received documents for collection from Bank (B), the docs has been outstanding for a long time so bank (A) returned the docs to the bank (B) remitting bank by express courier, but the docs has been lost by express courier.
my question : is the bank (A) obliged to pay the docs value to bank (B) remitting bank ?
Regards,
Salem
Document Under Collection Lost By Mail
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salemwoow
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aliraza110
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Document under collection
No bankis not liable to pay
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tiyo
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lost docs
I think bank A have no obligation to pay the Docs, since there is no obligation for both bank, remitting bank and collecting bank, under collection transaction.
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other comment will be appreciated
.
regards
Titi
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other comment will be appreciated
.
regards
Titi
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WanDan
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Document Under Collection Lost By Mail
Hi,
I think you are right. There is no responsibility on the banks as per Art. 14, a URC522. Maybe the drawer/bank can claim from the courier service which should be liable.
Cheers,
Dan
I think you are right. There is no responsibility on the banks as per Art. 14, a URC522. Maybe the drawer/bank can claim from the courier service which should be liable.
Cheers,
Dan