Dear sirs,,
my bank send to me swift shown the documents of LC presented under COLLECTION BASIS ??!!
What's the meaning of this
I hope u help me to understand this case ?
regards,,
collection BASIS meaning ?
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SANUSILAMIN
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TaiOanlan
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Re: collection BASIS meaning ?
Dear Sanusi,
I assume it means Negotiation bank send docs as it is without LC terms and conditions. Probably, exporter cannot resolve discrepancy(ies). Then, Negotiation bank did not negotiate the documents and purely dispatch documents as it is to Issuing bank(or nominated bank) without certifying documents complied LC terms and conditions.
I assume it means Negotiation bank send docs as it is without LC terms and conditions. Probably, exporter cannot resolve discrepancy(ies). Then, Negotiation bank did not negotiate the documents and purely dispatch documents as it is to Issuing bank(or nominated bank) without certifying documents complied LC terms and conditions.