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Drawee Made Payment To Drawer Directly Under D/A Colletion
Posted: Wed Mar 27, 2013 7:13 am
by Chamnan
Dear all
On the due date of D/A payment, we've confirmed by the drawee that they have make payment to the drawer by TT, so in this situation how should the collecting bank do?
Thanks
URC 522
Posted: Wed Mar 27, 2013 12:01 pm
by picant
Hi Pal,
Documents against acceptance, you have delivered documents against acceptance of a draft but on maturity drawee states having already paid the goods by TT, OK?
You have to follow the instructions of the remitting bank, specially for Protest and inform said bank about the situation and wait.
If the presenting bank instructed you to protest the draft, you have to do so.
Probably the drawee and drawer will comunicate to avoid protest, if no instructions to protest you will inform promptly the remitting bank and wait.
After 60 days if no answer from remitting bank, you will return the unpaid draft, asking for charges.
Other comments appreciated
Ciao