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We are presenting bank working for exporter in Bangladesh and sent documents to Importer’s country on DA basis.
Their bank has informed us maturity date for effecting payment to us. By this time the date expired for ten days.
We like to remind them by quoting appropriate terms.
I seek experts opinion how to remind them by using appropriate terms.
Zakir

Hi there
I understand from your post that you sent the docs and buyer's bank has replied that docs been accepted the payment will be effeced on maturity date and still you did not receive the payment.
If you need to write a msg to remind the payment of the docs. you should write an MT499 msg regarding their advise of payment msg and inform them that you have not received a payment of USD/EUR.... related to the docs and repeat the payment instructions ( you may ask from the buyer's bank to credit yr acc.held with a correspondent or ask for authorization to debit their acc. ) that depends on your correspondent relations you also have probably stated in yr cover letter attached to the docs.
if there is still no payment and no answer then may be financial instutaions dept.in your bank need to talk to the buyer's bank to solve the problem.
I hope this is helpful
regards

Hi Pal,

are you speaking about collection on documents against acceptance or usance l/c by acceptance.
In the first case the importer has accepted its own undertaking to pay, the collecting bank may only urge it for a payment or, if requested, sent the unpaid, accepted, draft or bill of exchange to be protested.
A message to drawee would be necessary.
Other comments appreciated
Ciao

IT IS FIRST ONE. IMPORTER'S BANK ADVISED US THE MATURITY DATE THROUGH SWIFT .DONT THEY HAVE ANY RESPONSIBILITY?

Hi Pal,

no liability for the cellecting bank, I holds the accepted draft for eventual payment at maturity, it is obliged to advise you about the fate.
URC 522 regulate this transaction.
Other comments appreciated
Ciao