Document send to the issuing Bank on May 18,2008.Despite several telephonic conversation and reminder letter the Issuing Bank send a discrepancy letter dated May 20, 2008.The presenting Bank receive the discrepancy letter on June 18,2008.
Now what will be the Negotiation Bank will do.
Back Dated of Notice Of Refusal Under Local LC
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Md.zakir Hossen
- Posts: 129
- Joined: Tue May 20, 2008 10:14 pm
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shahriar
- Posts: 923
- Joined: Fri May 16, 2008 1:03 am
- First Name: Shahriar
- Last Name: Masum
- Organization: Mutual Trust Bank
- Filter: Two Plus Two =: 4
- Location: Bangladesh
Re: Local credit.
dear zakir,
this is a case outside UCP. first thing you need to do is to checkup with the post to find out when they were actually been posted. if it was posted on or before 20th may, then you have nothing to do as UCP has an effective disclaimer clause on this issue. by the way, what was the discussion on the phone? did they said that they are rejecting? if yes and the call was within 5 wdays, then it was a successful refusal advice.
from your post i can presume that the LC is a local one and has expired. thats quite unfortunate. for local credit you may raise the issue to the ID of the issuing bank. however there is a do to save you client if the issuing bank do claim that the refusal advice was sent on 20th. but i wont mention it here since that will question the honesty and integrity of your bank. best of luck.
regd
shahriar
this is a case outside UCP. first thing you need to do is to checkup with the post to find out when they were actually been posted. if it was posted on or before 20th may, then you have nothing to do as UCP has an effective disclaimer clause on this issue. by the way, what was the discussion on the phone? did they said that they are rejecting? if yes and the call was within 5 wdays, then it was a successful refusal advice.
from your post i can presume that the LC is a local one and has expired. thats quite unfortunate. for local credit you may raise the issue to the ID of the issuing bank. however there is a do to save you client if the issuing bank do claim that the refusal advice was sent on 20th. but i wont mention it here since that will question the honesty and integrity of your bank. best of luck.
regd
shahriar