Hy all,
Need your Opinion regarding one case that we have on place.
Applicant via its bank issued an BG. Actually we were an advising bank. Due to applicant's non payment, beneficiary presented claim via us to issuing bank. Issuing bank has changed its address and unfortunately beneficiary's claim has expired. Until we find out new a address, claim has expired. Also want to admit that in BG nothing was told regarding claim via swift, so advising bank sent original documents under claim requirement. What is your opinion regarding it, does beneficiary have a chance to win court, does such situation covered by URDG? Also want to add that we advising bank anyway have sent claim via swift within BG expiry as well, but i don't think it will help because such term was not considered in original BG.
Thank u in advance.
Your Opinion
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gegeeee
- Posts: 147
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- First Name: Gega CITF, CDCS
- Last Name: Topadze
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nesarul
- Posts: 513
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- First Name: Nesarul
- Last Name: Hoque
- Organization: Mutual Trust Bank
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- Location: Bangladesh
Re: Your Opinion
I wish the guarantee is subject to ISP 98.
Unfortunately no clue from URDG 758
Unfortunately no clue from URDG 758
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moneo
- Posts: 17
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- Last Name: ALMOUSA
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- Location: SAUDI ARABIA
Re: Your Opinion
I advise you to read article 15 in URDG758 for clarification