Collection D/A under URC 522
Posted: Tue Sep 22, 2020 12:56 am
H
iPals,
a collection from India containing a draft, where the collectiong bank is quoted with full address,
the cover letter states drawee name as the importer, tenor D/A 30 days sight.
Bill of lading consigned to the collecting bank.
It is risky for the collecting bank to endorse the bill of lading, delivery documents under a simple acceptance of the draft by the drawee?
Let me know.
Ciao
iPals,
a collection from India containing a draft, where the collectiong bank is quoted with full address,
the cover letter states drawee name as the importer, tenor D/A 30 days sight.
Bill of lading consigned to the collecting bank.
It is risky for the collecting bank to endorse the bill of lading, delivery documents under a simple acceptance of the draft by the drawee?
Let me know.
Ciao