Hi Pals,
A friend told me that in a CAD Collection, its customer presented a bill of lading that, for security reason, was issued to the order od XXX YYY Bank, probably suggested by the importer. When taking up documents, the importer/drawee wa requested by the XXX YYY Bank for a commission of EUR 100,00 to provide edorsement of said bill of lading and then take up goods at port of discharge.It seems to me unusual to charge someone for an endorsement, always claused with the intention to exclude any liability for a bank.
Comments appreciated
Ciao
endorsement of bill of lading
-
edilee
- Posts: 105
- Joined: Wed Dec 16, 2009 12:38 am
- First Name: edilee
- Last Name: cdcs
- Organization: cdcs
- Filter: Two Plus Two =: 4
endorsement fee should be included in others
Hi picant
Sometimes banks request endorsement charge when the transport docs. issued to their orders as you know but in your case maybe a difference that I had not see. My opinion banks should take these charges included with their other.
other comments appreciated
Sometimes banks request endorsement charge when the transport docs. issued to their orders as you know but in your case maybe a difference that I had not see. My opinion banks should take these charges included with their other.
other comments appreciated
-
ahsioz
- Posts: 6
- Joined: Mon May 31, 2010 12:48 am
- First Name: sinan
- Last Name: özlem
- Organization: iş Bankası
- Filter: Two Plus Two =: 4
fee
Endorsement fee usually takes place in banks list of conditions. It is against the service given. (by the way EUR100 seemed somewhat a high price) Sometimes we face, a collection order sent to abc bank but the bl is issued to the order of xyz bank. This is the same case to charge the endorsement fee.
regards
regards
-
picant
- Posts: 2026
- Joined: Wed Aug 20, 2008 1:49 pm
fee
HI Pals,
In the last time I saw many charges, fees etc that have only a scope: make money. Banks are offering their services at reduced rate, but when something has not been stipulated, the charge will be higher. If I receive a collection, I have to check documents and apply art 5 c, incurring in costs that are Form, postage etc, that are already included in collection charges. Once, in Italy, charges were regulated by an Agreement (ABI -Italian Bankers Association) stating commissions to charge and their amount. This is no more possible, OK, but,IMHO, commissions are the same, is the amount that could change due to the so called competition. This will hamper many banks to invent "ad hoc" commissions and charges. To re-start a customer relationship, broken or interrupted for this reason, costs always more.
Other comments appreciated
Ciao
In the last time I saw many charges, fees etc that have only a scope: make money. Banks are offering their services at reduced rate, but when something has not been stipulated, the charge will be higher. If I receive a collection, I have to check documents and apply art 5 c, incurring in costs that are Form, postage etc, that are already included in collection charges. Once, in Italy, charges were regulated by an Agreement (ABI -Italian Bankers Association) stating commissions to charge and their amount. This is no more possible, OK, but,IMHO, commissions are the same, is the amount that could change due to the so called competition. This will hamper many banks to invent "ad hoc" commissions and charges. To re-start a customer relationship, broken or interrupted for this reason, costs always more.
Other comments appreciated
Ciao