Your Opinion
Posted: Mon Feb 23, 2015 5:02 pm
Hy all,
Need your Opinion regarding one case that we have on place.
Applicant via its bank issued an BG. Actually we were an advising bank. Due to applicant's non payment, beneficiary presented claim via us to issuing bank. Issuing bank has changed its address and unfortunately beneficiary's claim has expired. Until we find out new a address, claim has expired. Also want to admit that in BG nothing was told regarding claim via swift, so advising bank sent original documents under claim requirement. What is your opinion regarding it, does beneficiary have a chance to win court, does such situation covered by URDG? Also want to add that we advising bank anyway have sent claim via swift within BG expiry as well, but i don't think it will help because such term was not considered in original BG.
Thank u in advance.
Need your Opinion regarding one case that we have on place.
Applicant via its bank issued an BG. Actually we were an advising bank. Due to applicant's non payment, beneficiary presented claim via us to issuing bank. Issuing bank has changed its address and unfortunately beneficiary's claim has expired. Until we find out new a address, claim has expired. Also want to admit that in BG nothing was told regarding claim via swift, so advising bank sent original documents under claim requirement. What is your opinion regarding it, does beneficiary have a chance to win court, does such situation covered by URDG? Also want to add that we advising bank anyway have sent claim via swift within BG expiry as well, but i don't think it will help because such term was not considered in original BG.
Thank u in advance.