barclays facility lc transfers to HSBC ?

The forum is dedicated to all who deals with LCs. Please share your experiences, problems and opinions with us. You are requested to be confined to LC related issues only. Let us together discover the beauty of Letter of Credit. Thank and regards – admin; besttradesolution.com
Post Reply
bmahamud
Posts: 17
Joined: Sat Jul 07, 2018 4:56 pm
First Name: Mahamud
Last Name: Babel
Organization: Crystal Martin Inter
Filter: Two Plus Two =: 4
Location: Bangladesh

barclays facility lc transfers to HSBC ?

Post by bmahamud » Wed Jul 11, 2018 2:32 pm

Dear,

Is it possible to change LC advising Bank which to be Barclays UK to HSBC BD directly ?


Kind Rgds,
MBabel

User avatar
picant
Posts: 2026
Joined: Wed Aug 20, 2008 1:49 pm

Ehm

Post by picant » Thu Jul 12, 2018 4:03 am

Hi Pal,

sorry I dont understand your problem| Have you received a l/c by an advising bank, but you need
HSBC BD as advising bank or..?
To remember that, IMHO, if issued by SWIFT the advising bank is indicated in field 57A!
Details appreciated-Ciao

bmahamud
Posts: 17
Joined: Sat Jul 07, 2018 4:56 pm
First Name: Mahamud
Last Name: Babel
Organization: Crystal Martin Inter
Filter: Two Plus Two =: 4
Location: Bangladesh

Re: barclays facility lc transfers to HSBC ?

Post by bmahamud » Mon Nov 12, 2018 12:29 pm

Hi sorry for late reply as I was forgotten my ID and Pass: However,

For an example: I need one LC direct from UK HSBC to BD HSBC but it is advised to another bank after that we collect and then lien to BD HSBC

Applicant says: Unfortunately not, on my original application I specified as per below

HSBC TRANSACTION SERVICES, LEVEL
Dhaka 1208, Bangladesh.

Barclays do not have the facility to send authenticated SWIFT messages direct to HSBC above

So Barclays selected a bank they can send authenticated SWIFT messages to (Citibank in country), who then advise the credit onto HSBC in country

User avatar
picant
Posts: 2026
Joined: Wed Aug 20, 2008 1:49 pm

Re: barclays facility lc transfers to HSBC ?

Post by picant » Sat Nov 17, 2018 12:46 am

Hi Pal,

If the applicant instructs the issuing bank to indicate HSBC BD as advising bank, the IB may send
MT700 to its correspondent in Bangladesh for further handle to HSBC. If the receiver of MT700 decides otherwise, it is not well working. However, no hamper for Barclays to send MT700 to HSBC UK for
HSBC BD. The l/c is still good!!!
Ciao

bmahamud
Posts: 17
Joined: Sat Jul 07, 2018 4:56 pm
First Name: Mahamud
Last Name: Babel
Organization: Crystal Martin Inter
Filter: Two Plus Two =: 4
Location: Bangladesh

Re: barclays facility lc transfers to HSBC ?

Post by bmahamud » Sat Nov 17, 2018 3:32 pm

Understood ... and thank you

Post Reply