corresponding bank not paying complying presentation
Posted: Thu Jul 18, 2019 7:59 pm
Dear Sirs,
The applicant opened an LC with us on beneficiary as follows:
The issuing bank is ECOBANK LIBERIA. The LC was advised to us (Romanian company) by EBI BANK PARIS (Ecobank correspondent in Paris).
On the 11th July EBI BANK PARIS found our presentation compliant. On15th the documents arrived at the issuing bank counters.
As per LC 42C - draft as 120 days from BL date, but the issuing bank send a swift message to Ebi (which was send to us by EBI) saying: Beneficiary will be paid at sight upon presentation.
The problem is that EBI bank doesn't reply to us since 4 days, we asked them if we can discount the receivables. Aren't they obliged to pay at sight?
Please advise what can we do.
The applicant opened an LC with us on beneficiary as follows:
The issuing bank is ECOBANK LIBERIA. The LC was advised to us (Romanian company) by EBI BANK PARIS (Ecobank correspondent in Paris).
On the 11th July EBI BANK PARIS found our presentation compliant. On15th the documents arrived at the issuing bank counters.
As per LC 42C - draft as 120 days from BL date, but the issuing bank send a swift message to Ebi (which was send to us by EBI) saying: Beneficiary will be paid at sight upon presentation.
The problem is that EBI bank doesn't reply to us since 4 days, we asked them if we can discount the receivables. Aren't they obliged to pay at sight?
Please advise what can we do.