handling of original documents

vijay · Post by **vijay** » Wed Jun 23, 2010 11:13 am

Dear All,

I would like to have your opinions for the said scenario:

We sent the shipments and submitted the documents which are complying with LC requirements. But we asked the nominated bank not to negotiat and the documents should be sent for presentation to the issuing bank. As per our request our bank sent the documents through courier to the LC issuing bank as per the address mentioned in the Field 78 of Letter of Credit.

On tracking the documents through courier website, we found out that the courier company could not able to locate the courier company due to incorrect address-receipent (issuing bank)moved to another location. Immediately we contacted our bank regarding this and they also checked their covering schedule in which they mentioned the bank address as per LC requirement in correct.

But our bank asked us to contact the applicant to inform the situation and requested us to get the new address of bank.

Is it correct as our bank asking to get the address of bank instead of they should contact the LC issuing bank? Whether our bank is following Article 35 - Disclaimer on Transmission and Translation and Article 37- Disclaimer for Acts of an Instructed Party in this situation?

Pls give your opinions.

Regards/Vijay

iLC · Post by **iLC** » Sat Jun 26, 2010 10:37 am

dear vijay,

this is a unfortunate case indeed. the issuing bank should have inform that they are moving to another location. before i can make any comment, i need to know the status of your bank (nominated or not) and the document. have you received the document back from the Currier or is it lost in transit? article 35 applies only if the document is lost in transit.

i can understand your bank's position. they are taking the easier route. since they have not negotiate the presentation, they might be probably thinking; its your problem, you solve.