BUYER RECEIVED DELIVERY, BANK SAID DOCS NOT PAID YET
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kankarma
- Posts: 1
- Joined: Sat Sep 21, 2013 4:07 pm
- First Name: kanhaiya
- Last Name: vishvakarma
- Organization: akmk
- Filter: Two Plus Two =: 4
- Location: india
BUYER RECEIVED DELIVERY, BANK SAID DOCS NOT PAID YET
AS PER SHIPPING LINE BUYER HAS TAKEN DELIVERY OF GOODS AND RETURNED EMPTY CONTAINERS, BUT BUYER'S BANK IS CLAIMING THAT DOCUMENTS HAS NOT BEEN PAID BY BUYER. HOW IS IT POSSIBLE. BUT IT HAPPEN. SHIPPING LINE IS CLAIMING THAT THEY HAVE DELIVERED THE GOODS AGAINST ORIGINAL BILL OF LADING. IS THERE ANY WAY TO GO TO LEGAL WITH THAT BANK.
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picant
- Posts: 2026
- Joined: Wed Aug 20, 2008 1:49 pm
It happens,,,,,,,
Hi Pal,
notwithstanding the URC 522, some banks have problems in transferring proceeds due to strict foreign exchange rules in import Country. Authorized dealers may take some days to obtain a prmit to send money abroad where the importer has already paid in local currency.
If the importer's bank has retained the amount or delivered documents without payment is very limited to a bad behaviour of said bank. Please ask your bank to urge the correspondent/presenting bank, instructing it to re-present documents and in case of no payment to return documents. If the presenting bank has already delivered such documents will be not able to return them and, consquently, will remit you the proceeds.
In rare cases the presenting bank will let you know about some difficulties incurred in sending money abroad, due to seizure, legal actions etc.
Naturally act with precious help from your bank and your forwarder.
Other comments appreciated
Ciao
notwithstanding the URC 522, some banks have problems in transferring proceeds due to strict foreign exchange rules in import Country. Authorized dealers may take some days to obtain a prmit to send money abroad where the importer has already paid in local currency.
If the importer's bank has retained the amount or delivered documents without payment is very limited to a bad behaviour of said bank. Please ask your bank to urge the correspondent/presenting bank, instructing it to re-present documents and in case of no payment to return documents. If the presenting bank has already delivered such documents will be not able to return them and, consquently, will remit you the proceeds.
In rare cases the presenting bank will let you know about some difficulties incurred in sending money abroad, due to seizure, legal actions etc.
Naturally act with precious help from your bank and your forwarder.
Other comments appreciated
Ciao