Acceptance Of Discrepant Document Under Transferable LC

firas · Post by **firas** » Sat Jul 25, 2015 7:31 am

Dear friend
If we , transferred bank and received documents from the second beneficiaries with discrepancies , which the party should be contacted to obtain their acceptance
Best regards

picant · Post by **picant** » Sat Jul 25, 2015 3:18 pm

Hi Pal,

a part handling a transferable/tranferred credit depends on the wording of the same credit. I think that the only party that may authorize acceptance of discrepant document is the issuing bank, except when the first beneficiary may adjust the
discrepant documents.
Other comments appreciated
Ciao

shahriar · Post by **shahriar** » Sat Aug 22, 2015 3:19 pm

Agree with picant. You should contact with issuing bank unless the discrepancy relates to invoice or bill of exchange which may be cured by the 1st beneficiary.

hardy2175 · Post by **hardy2175** » Sat Aug 29, 2015 10:53 pm

Fully agree that the acceptance of the discrepancy can only be given by the issuing bank. However is there is enough time for correction of the discrepancies by the 2nd bene then the second bene can be given that option before forwarding the docs to the issuing bank.

Acceptance Of Discrepant Document Under Transferable LC

Acceptance Of Discrepant Document Under Transferable LC

Re: Transferable LC

agree with picant