DA Is Past Due Remitting Bank Claiming Payment To Collecting Bank

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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DA Is Past Due Remitting Bank Claiming Payment To Collecting Bank

Post by TradeLaporte » Wed Mar 16, 2016 7:54 pm

Dear fellows

A DA reminds unpaid after maturity the Bill of Ladin was endorse by our bank at the time of acceptance now remitting bank is demanding payment from us the collecting bank. Does the collecting bank is obligated because endorsed the BL? Your comments appreciated
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Nurun
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Post by Nurun » Mon Aug 22, 2016 12:01 pm

No collecting bank is not liable as per
Art 10 e, URC 522.
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picant
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Agreed with Nuron

Post by picant » Thu Aug 25, 2016 2:55 am

Hi Pals,

normally the endorsement on a bill of lading by a bank is made by clausing this endorsement that the bank is acting to facilitate the transaction as qualified operator and not as guarantor of the payment of the collection.
Other comments appreciated
Ciao
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