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Remitting Bank Sent Document With Wrong Drawee name

Posted: Tue Mar 19, 2013 7:08 pm
by TradeLaporte
Remitting bank instruct with 999 MSG to deliver docs to another party free of payment . We request authenticated MSG then a third bank from NY relay similar instructions via swift 199 without their responsibility . Dear members will you follow instructions base on messages receive and deliver docs after collecting our fees to the party that was not mentioned in the documents
Your comments highly appreciate it

Remitting bank instructions

Posted: Tue Mar 19, 2013 11:55 pm
by picant
Hi Pal,

I will accept fresh instructions received from the remitting bank, via authenticated message via another bank.
Probably the first buyer is not in the position to pay and take up the goods, so a third person will try to find another buyer, being the goods already at destination.
This is common in trade, the URC speak about somebody the "case of need" that may act ,in allowed limits stated in the remittance letter, to solve this type of problems.
Other comment appreciated
Ciao

Remitting bank instructions

Posted: Wed Mar 20, 2013 1:46 pm
by mskhan42
Dear Tradelaporte,

Totally agreed with Ciao.

Regards,
M. Saqib Khan