Dear Guys,
I have little of Problem.
I have customer from Vietnam they buy from me about hundred thousand euro .
They open the LC at sight after we negotiating the documents we get discrepancies from issuing bank and my customer not approve the accept discrepancies.
They exploiting this situation to change the tenot be 60 days after delivery but they don't want to make a purpose to issuing bank about that , they just want to release the letter of documents withdrawal. we refused this request..
so.. how is the solutions for my case.. help me pleaseee...
our good already arrived and the freetime demmurage are just until 06-08-08.
Please answer at my e-mail y.chusnul@guentner.co.id
Posting created in the wrong area.
You should have posted it in the "letter of credits" section, not under "suggestions for site".
First of all, figure out whether there really was a discrepancy. You might ask your bank or describe the dicrepancy in detail to us.
In case the issuing bank did not specify the dicrepancy, wait for the five banking days time to be elapsed, then let your bank reject the rejection for the formal mistake of not having quoted the discrepancies.
If it is a true discrepancy, immediately try to make a complying presentation. If that's not possible, you're in trouble.
Beneficiary might want to play evil tricks on you - but might be also the discrepancy has led to costs with him, he wants to compensate by a deferred payment.
In any case the issuing bank has to be included in the process of extending the validity. Otherwise you are in danger of losing the total value of your merchandise.
However from applicants point of view you also have to understand his fear of receiving faulty goods if docs are not complying.
So, go ahead and give us more details!!
-Each long journey starts with a small step-
Best regards
Frammi
Your LC complied with or not?
Dear Issuer
I would to recommend you that if your Inv, PL and BL, and other docs complied with credit, no reason that issuing bank can change the term of LC.
Have you got any amendment from them? MT707
If you did not get any amendment from advising bank, and you ship on board and docs complied with.... so no reason that issuing bank doesn't pay you....
happy to support you.
Richard.