Dear Concer,
Few days back my client endorsed a set of copy documentsagainst his import LC to release goods. The invoice value was $ 4000.00 and LC value was $ 25000.00 and it was Partiallyshipment allowed.
However, after few days the presenting bank sen us original documents which BL, Packagingng List and Invoice were madw for $25000.00!
The document was near to clean and we provide them discrepancie.
In this case do we need to pay them? Can we ask them original document for $4000.00?
Please give me a detail suggestio.
Regards,
Fuyad
Wrong Presentation
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Fuyad
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TaiOanlan
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Re: Wrong Presentation
Hi Fuyad,
It is not clear what the situation was. I assume your role is the Issuing bank.
Is the L/C having clause that accepts presentation of copy of documents?
If that USD25,000.00 is the second presentation, it would simply be having at least one big discrepancy which is L/C overdrawn ( overdrawn for USD21,000.00).
Regards,
It is not clear what the situation was. I assume your role is the Issuing bank.
Is the L/C having clause that accepts presentation of copy of documents?
If that USD25,000.00 is the second presentation, it would simply be having at least one big discrepancy which is L/C overdrawn ( overdrawn for USD21,000.00).
Regards,