Docs returned by collecting Bk claiming fees

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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TradeLaporte
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Joined: Sat Nov 24, 2012 12:40 pm
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Docs returned by collecting Bk claiming fees

Post by TradeLaporte » Fri Jun 06, 2014 11:12 am

Hi members
What is the liability of the remitting bank for fees claim by the collecting bank after return of unpaid documents . Fees revised by drawer

Your comments appreciated.
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picant
Posts: 2026
Joined: Wed Aug 20, 2008 1:49 pm

Ban k's price list

Post by picant » Fri Jun 06, 2014 9:33 pm

Hi Pal,

in Internet it is easy to find the price list that any bank charges to customer included foreign banks.
Principal and remitting bank are liable for such fees, but you may ask collecting bank for reduction.
All is possible, however if the collecting bank disagrees you(and your principal) have to pay.
Other comments appreciated
Ciao
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