LC discrepancies
Posted: Sun Mar 22, 2020 7:46 am
Hello friends
I have submitted an LC presentation which was rejected by the back due to three discrepancies. I have managed to resolve one but still left with two. Could you please answer the following:
1. Can the nominated accept these discrepancies and make the payment without consulting the issuing bank ? Would it be reasonable for me to ask the bank to accept these discrepancies and honour my presentation considering the discrepancies are minor ?
2. if the bank refuses, can I ask for the documents to be returned abd is it possible to submit another presentation using the same documents , after , of course, picking up the discrepancies?
3. The bank has asked me to either send replacement documents within the 5 day presentation period or instruct them to contact the issuing bank to authorise payment. Considering 4 days have already gone , is it worth asking for payment authority from the issue bank or I’m better off asking the bank to return the documents so I can correct discrepancies and submit the documents again within the allowed 21 days?
I have submitted an LC presentation which was rejected by the back due to three discrepancies. I have managed to resolve one but still left with two. Could you please answer the following:
1. Can the nominated accept these discrepancies and make the payment without consulting the issuing bank ? Would it be reasonable for me to ask the bank to accept these discrepancies and honour my presentation considering the discrepancies are minor ?
2. if the bank refuses, can I ask for the documents to be returned abd is it possible to submit another presentation using the same documents , after , of course, picking up the discrepancies?
3. The bank has asked me to either send replacement documents within the 5 day presentation period or instruct them to contact the issuing bank to authorise payment. Considering 4 days have already gone , is it worth asking for payment authority from the issue bank or I’m better off asking the bank to return the documents so I can correct discrepancies and submit the documents again within the allowed 21 days?