dear sir,
im having increasing event where we receive excess payment under a document forwarded or negotiated by us. if we receive excess of honored value, what we should do the extra fund. so far we are crediting it to the customer account.
excess payment under letter of credit
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Navi
- Posts: 362
- Joined: Mon Jun 23, 2008 4:17 pm
- First Name: Olcay
- Last Name: Özcan
- Organization: Bank
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reason of excess payment?
Hi friend,
We got used to receive less than required value and had to strive for the missing amount
I found it interesting that you receive more.
I think you had better ask the bank the reason of excess payment and return the amount. There may be an error in the amount remitted by the bank and may request refund in the future...
REgards
We got used to receive less than required value and had to strive for the missing amount
I found it interesting that you receive more. I think you had better ask the bank the reason of excess payment and return the amount. There may be an error in the amount remitted by the bank and may request refund in the future...
REgards
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jmitra
- Posts: 247
- Joined: Tue Sep 02, 2008 10:16 pm
- First Name: jasmit
- Last Name: mitra
- Organization: bank
- Filter: Two Plus Two =: 4
- Location: India
may be not
may be its not a error. there may be some "off" cases where the issuing bank indeed pay more. for example there may be some special negotiation between the applicant and beneficiary. many possibilities are there in this regard. i think its the right thing to ask the issuing bank instead of crediting it client's account. if that is indeed a mistake, the issuing bank may claim a refund and you will be in trouble then.