Hllow Every body:
Beneficiary submitted the complying documents to his bank.Beneficiary forward the documents to the presenting bank on acceptance basis.Issuing Bank did not extend acceptance or discrepancy notice.After 10 working days the beneficiary request his bank to return the credit and call back the documents from the issuing Bank.
Can presenting bank call back the documents from the Issuing Bank in this situation?
What is Beneficiary's intention?
The Beneficiary Requested To Return The Document
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Md.zakir Hossen
- Posts: 129
- Joined: Tue May 20, 2008 10:14 pm
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shahriar
- Posts: 923
- Joined: Fri May 16, 2008 1:03 am
- First Name: Shahriar
- Last Name: Masum
- Organization: Mutual Trust Bank
- Filter: Two Plus Two =: 4
- Location: Bangladesh
Re: Intention of the Beneficiary
dear zakir,
it seems that the beneficiary has found a new buyer offering higher price. as per UCP the draft has been accepted by the issuing bank (unless there is a case you mentioned earlier) and will be paid on maturity. there is no way to call it back
regd
shahriar
it seems that the beneficiary has found a new buyer offering higher price. as per UCP the draft has been accepted by the issuing bank (unless there is a case you mentioned earlier) and will be paid on maturity. there is no way to call it back
regd
shahriar