Home Mr Old Man WHERE THE ISSUING BANK MAINTAINS NO CORRESPONDENT BANKING RELATIONSHIP WITH THE BENEFICIARY’S BANK

WHERE THE ISSUING BANK MAINTAINS NO CORRESPONDENT BANKING RELATIONSHIP WITH THE BENEFICIARY’S BANK

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QUESTION

Good Day.

I’m Shakil Mostafa, SCM & logistics practitioner in Bangladesh. I have been working in international trade for around 12 years.
I am a regular reader of your blog and Web: www.mroldman.net

You are the real LC expert I have ever seen. I need your help regarding the below issues:

Case:
We want to import from the company in France and we are in Bangladesh. Our LC opening bank XYZ said that they don’t have any business relationship with any bank in France but they have connections/relations with the various bank in Germany. In this case, what can we do? I have two questions:

1/ Is it allowable to use LC clause 57 (Advice through) from one country to another country?

2/ Is it justified what our bank XYZ said that they don’t have any business relationship with any bank in France?

I will be grateful to you if you guide me.

Thanks & Best Regards,

Shakil Mostafa
—————

ANSWER

Hi,

1/ Yes, provided that the first advising bank in Germany has correspondent banking relationship with the second advising bank in France.

2/ I think France is one of the big markets of Bangladesh, hence, Bangladeshi banks that provide international payment services would maintain correspondent banking relationship with at least one or two banks in France.

You may also request another Bangladeshi bank that has correspondent relationship with the advising bank or any other banks in France to issue the LC.

Kind regards,

Mr. Old Man

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