Dear sirs
The bank send me The documents presented under COLLECTION BASIS ?
What's the meaning of " COLLECTION BASIS "
please inform me about that asap.
Regards,,
COLLECTION BASIS MEANING ??
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SANUSILAMIN
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picant
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Re: COLLECTION BASIS MEANING ??
Hi Pal,
if the sending refers to a documentary credit, it means that the presenting bank is not a nominated bank or is not acting as nominated bank.
However, IMHO, you have to treat documents under your credit, advising discrepancies, if any, timely etc.
even if covering letter indicates under URC 522.
Other comments appreciated
Ciao
if the sending refers to a documentary credit, it means that the presenting bank is not a nominated bank or is not acting as nominated bank.
However, IMHO, you have to treat documents under your credit, advising discrepancies, if any, timely etc.
even if covering letter indicates under URC 522.
Other comments appreciated
Ciao
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JAX1066
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Re: COLLECTION BASIS MEANING ??
Hi
I agree with Pal - I would most certainly check documents under the LC and advise discrepancies, despite the covering letter stating documents sent under URC522.
I agree with Pal - I would most certainly check documents under the LC and advise discrepancies, despite the covering letter stating documents sent under URC522.