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Issuing Bank/Negotiating Bank/Applicant-not accepted the document and returned
Posted: Thu Nov 25, 2021 1:15 am
by AumAmeya
Dear experts , please advice how to proceed if documents not accepted by issuing bank/ Applicant .And we have not receive any discrepancy advise from negotiation bank and IB as well. Please advise how to proceed further
Re: Issuing Bank/Negotiating Bank/Applicant-not accepted the document and returned
Posted: Sat Nov 27, 2021 6:59 pm
by picant
Hi Pal,
where it is possible for negotiating bank to refuse presentation, if the documentary credit has not been confirmed, the issuing bank is obliged to honor. Its refutal could be due to embargoes or sanctions, but it must be proved.
A legal advise necessary, the let us know.
Ciao