Dear Expert,
We (Collecting Bank) have received a few of shipping documents under Documentary collection where photocopy of bill of lading submitted and port of loading & port of Discharge are at Hong kong and Pakistan respectively. But the Applicant which is International company and of whose favour the document we received is situated in Bangladesh. That is goods are not shipped at port of Bangladesh but payment will be released from here.
Now, my question is-Is there any problem to make payment from a third country(e.g. Bangladesh) which actually not received the goods.
If copy of shipping Documents sent for documentary collection, As a collecting Bank can we execute the transaction? Is there any minimum checking points in such a document?
Please help to clarify.
Copy of Shipping Document received for releasing payment
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Tareq
- Posts: 39
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- First Name: Isratul
- Last Name: Tareq
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- Location: Bangladesh
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picant
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- Joined: Wed Aug 20, 2008 1:49 pm
Domestic Rules
Hi Pal,
Depending on laws and foreign exchange reguilation a resident in one Country may operate worldwide. Trader i n Switzerland may buy and sell goods everywhere. From Customs point of view there are transit direct or indirect,
direct: goods touch the Country boundary, indirect they travel outside.
In Italy, it is possible , I dont know in your Country.
Other comments appreciated
Ciao
Depending on laws and foreign exchange reguilation a resident in one Country may operate worldwide. Trader i n Switzerland may buy and sell goods everywhere. From Customs point of view there are transit direct or indirect,
direct: goods touch the Country boundary, indirect they travel outside.
In Italy, it is possible , I dont know in your Country.
Other comments appreciated
Ciao