Bank Release V Bank NOC

Simple is Beautiful; the only thing came in my mind when thought of documentary collection. And I think more and more people are thinking the same in these days. Documentary Collection offers us far greater security than selling on open account; but not as much as a documentary credit. We should therefore be more cautious before starting selling using this method of payment. Documentary Collection Forum is an effort to help you on this way – admin; besttradesolution.com
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susmitagolam
Posts: 3
Joined: Thu Jan 02, 2014 1:03 pm
First Name: susmita
Last Name: golam
Organization: seagate logistics
Filter: Two Plus Two =: 4
Location: Bangladesh

Bank Release V Bank NOC

Post by susmitagolam » Mon Jan 06, 2014 2:14 pm

Dear all,

I work in a Freight Forwarding company. Received one email from our overseas partner : “We received the bank releases from consignee.” What is Bank Release? What is difference between Bank Release and Bank NOC?

This was Collect shipment. At First our overseas partner asked for shipper’s Bank NOC. But shipper failed to provide NOC from Bank. And then our overseas partner office wrote that they received bank releases from consignee. What does this mean? Does NOC is not necessary now if they get bank release from consignee? Please explain details. I am very poor in Bank matter related to HBL & MB/L.

What about if it was a Prepaid shipment?

Thanks
Susmita Golam
Bangladesh
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