Non receipt of the payment against FCR
Posted: Tue Oct 11, 2011 4:08 pm
Dear Friend,
Could you advise your opinion to the below points.
I am in deep trouble due to the non receipt of the payment from my Vendor. we are manufactruring and export the knitted hosiery garments from India. We are doing the busines with our Buyer in USA through the commision agency from taiwan with Letter of Credit mode . The Agent representative have in Local. doing the busines with buyer since 2006. The LC buyer opened to Agent bank and the agent bank transffered Lc to give us to our Bank. The payment also we recived the same method. we always sent the goods by sea port and recived the Forwarders cargo reciept instead of B/L and sent the same to Agent bank with necessary documents. Agent will forward the actual documents along with the original Fcr to the buyers bank. The busines was gine smoothly the same terms and condtion up to Aug-2011. now the last seaon we are unable to get the orders for Spring 12 season due to the price issue. but we are having the orders up to Sep 2011. we delivered all the goods as per their PO and Lc. last 4 P.O's (4 Lc's) payment non recived from buyers bank. and they have sent to the documents return along with our original FCR to our bank due to the buyers bank rejected the documents.But the buyer recived our goods and they are having our goods. they are told some very simply reasons for non payment. Now we are forced to put a case against them, at the time we discuss with our Lawyer regarding this issue she asked we cant do nothing because of the FCR is not valid and how you allowed to sent the goods without B/L. suppose you sent the B/L format they cant take the shipment without the original B/L. there is no way to suite a file against FCR. Is it true? is there no way to get my payment? can you help me ???
Could you advise your opinion to the below points.
I am in deep trouble due to the non receipt of the payment from my Vendor. we are manufactruring and export the knitted hosiery garments from India. We are doing the busines with our Buyer in USA through the commision agency from taiwan with Letter of Credit mode . The Agent representative have in Local. doing the busines with buyer since 2006. The LC buyer opened to Agent bank and the agent bank transffered Lc to give us to our Bank. The payment also we recived the same method. we always sent the goods by sea port and recived the Forwarders cargo reciept instead of B/L and sent the same to Agent bank with necessary documents. Agent will forward the actual documents along with the original Fcr to the buyers bank. The busines was gine smoothly the same terms and condtion up to Aug-2011. now the last seaon we are unable to get the orders for Spring 12 season due to the price issue. but we are having the orders up to Sep 2011. we delivered all the goods as per their PO and Lc. last 4 P.O's (4 Lc's) payment non recived from buyers bank. and they have sent to the documents return along with our original FCR to our bank due to the buyers bank rejected the documents.But the buyer recived our goods and they are having our goods. they are told some very simply reasons for non payment. Now we are forced to put a case against them, at the time we discuss with our Lawyer regarding this issue she asked we cant do nothing because of the FCR is not valid and how you allowed to sent the goods without B/L. suppose you sent the B/L format they cant take the shipment without the original B/L. there is no way to suite a file against FCR. Is it true? is there no way to get my payment? can you help me ???