Best Trade Solution

dear friends,

LC shows

ALL SHIPMENT UNDER THIS CREDIT MUST BE ADVISED BY BRIEF FAX WITHIN 7 DAYS OF SHIPMENT TO ...FREIGHT FORWARDING COMPANY LTD GIVING FULL DETAILS OF SHIPMENT. A COPY OF THE FAX ACKNOWLEDGMENT RECEIPT MUST BE PRESENTED.

the credit has no reference of fax number. whats your opinion. i am the advising bank. i wanted to revert to the issuing bank. my beneficiary wants to go for it anyway.

regd

shahriar

Dear Shahriar,
This statement gives rise to different interpretations/views and I would not follow the beneficiary instructions especially the credit has been confirmed or the bank agreed to honor/negotiate.
Unless the fax transmission shows the ID company (namely the freight forwarder) the appearance of fax number only without receiver's ID will be questioned by issuing bank (notwithstanding they cannot prove the beneficiary did not sent the fax to the named freight forwarder) Therefore I suggest you to contact issuing bank to seek for a clarification to provide you relevant information.
Although issuing bank is ultimately responsible for absence of clear information, as long as the ball is in its hands I would not rely only on the fact
Regards
Cristian