Presentation short original documents to issuing bank counter under a confirmed LC

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Sohel Rana
Posts: 12
Joined: Fri Oct 23, 2009 3:03 pm
First Name: Sohel
Last Name: Khan
Organization: Bank Asia Limited
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Presentation short original documents to issuing bank counter under a confirmed LC

Post by Sohel Rana » Tue Apr 20, 2021 12:24 am

Senerio:
LC opened confirmed by x bank Singapore for 180 days deferred
Docs received from x bank not as per LC I.e. shortfall of documents. Only CI,PL and forwarding received and requested for acceptance.
Goods released by LOI. Heavy fuel oil LC.

Question: Can I send discrepancies to mention that documents shortfall?

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

Re: Presentation short original documents to issuing bank counter under a confirmed LC

Post by picant » Wed Apr 28, 2021 9:39 am

Hi Pal,

usually when an issuing bank signed a LOI, received a previous acceptance of documents that will be presented under l/c.
IMHO, communicate discrepancies after an authorization to deliver the goods is reputationally wrong.
Other comments appreciated.
Ciao

jinugu
Posts: 13
Joined: Sun Sep 14, 2008 2:40 pm

Re: Presentation short original documents to issuing bank counter under a confirmed LC

Post by jinugu » Fri Jun 04, 2021 5:11 pm

Perfect Picant. The issuance of LOI would mean a blanket acceptance of all the discrepancies by the applicant. all banks issue LOI on that basis. Ravi

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