AWB and release of goods

[picant]

Hi Pals,

Liability for a bank that, indicated on AWB as consignee, without prior permission, authorizes the Airline Company to deliver of the goods under exporter invoice copy, supplied by the importer and the collection received later from the exporter's bank shows different invoice details in terms and in amount:

-Invoice presented 30% advanced payment, 50% CAD at sight, 20% at 30 days, invoice received 30% advanced payment, 70% CAD at sight.

IMHO, all it is outside the URC 522, but if you have experience I will gladly share it with you.

Thanks and regards

Ciao

[phani10]

Hi Pals,

Liability for a bank that, indicated on AWB as consignee, without prior permission, authorizes the Airline Company to deliver of the goods under exporter invoice copy, supplied by the importer and the collection received later from the exporter's bank shows different invoice details in terms and in amount:

-Invoice presented 30% advanced payment, 50% CAD at sight, 20% at 30 days, invoice received 30% advanced payment, 70% CAD at sight.

IMHO, all it is outside the URC 522, but if you have experience I will gladly share it with you.

Thanks and regards

Ciao

Bank assumes no liability if the documents handled under URC 522 .

As of the other case if the payment terms shows that the importer bank would have to check that whether the 30 % advance has been paid by the importer and then book for the 70% . After booking while releasing the documents . it has to pay 50 % immediately and subsequently should taken an undertaking in terms of promissory note from the importer that on 30th day the importer will pay the balance payment