Best Trade Solution

Hello All,

I am new in this Forum and i really need your Professional answers/ advice to my enquiry as below:

I am a Supplier of some goods here in Eastern Europe and have been selling based on (T/T) / Advance Payment, but now due to the constant request of new buyers that we should accept CONFIRMED L/C 100% at sight from them as means of Payment, we have finnaly agreed to give it a Trail to begin bussiness by L/C 100% at sight Payment But the Problem here is that:

(1) We are based here in Eastern Europe ( Poland ) and Our Bank we use for Bussines is in USA ( Basically Offshore Bank )..., One of our New Buyer wants to Open and Confirm an L/C from his Bank in Europe ( in Germany ).

what i need to know is that, is it Possible & right according to L/C Practise for Me as a Seller to send the Completed Shipping Documents (as called for in the issued L/C ) Directly by myself via Express Courrier to the Buyer's Bank ( L/C Issuing Bank in Germany) ???? Insteed of me sending it by Courrier to my Bank in U.S.A and then my Bank sends it Back here to Europe ( Germany ) to the Buyer's / L/C Issuing Bank....

I am seeing this as a Waste of time for Documents Moving to USA., and then Return Back here to Europe, when i am here in Europe and can easilly Send the Documents via Express Courrier from here in Eastern Europe where i am (Poland) to Germany ( L/C Issuing Bank ) to receive Payment.

Please i need all your PROFESSIONAL ADVICE if this is right under the L/C Rules for me to do, and if the L/C Issuing Bank ( Buyer Bank ) in Germany will NOT reject the Shipping Documents & Reject Payment because i sent it directly by / from myself ????

I await your ADVICES !!!
Thanks

hi!
of course you can send the document directly to the issuing bank by yourself unless there is something contrary written in the LC. however you may want to consider few things -

1. since it will be your first LC experience, you should get the document checked by someone who understand LC. otherwise there will be high probability of discrepancy
2. if the document get lost in transit, you will have no protection. (of course sending the document to USA is not a good idea)

good luck

Hi,
flexibleworld24

SURE you can send the shipping documents directly to the issuing bank.

In this case your bank means USA bank is a nominated bank.
Primary responsibility of a nominated bank is to check the documents are properly send or not and is this a complying presentation or not.

Then those documents are sent to the Issuing bank (in this case, the bank in Germany) for further checking, whether is this complying presentation or not.

So if you send directly to the Issuing bank or not, ANY WAYS they will check the documents thoroughly, is this a complying presentation or not.

so go ahead....and best of luck...

bye
saikat

one more thing in addition to the above. if you send document directly to the issuing bank, clearly mention your bank account detail and contact detail. otherwise it would be difficlut for the issuing bank to make payment or sent refusal advice.