Home Uncategorized RETURNING COMPLYING DOCUMENTS AT THE PRESENTER’S REQUEST

RETURNING COMPLYING DOCUMENTS AT THE PRESENTER’S REQUEST

2 min read
1
0
2,224

images

QUESTION

Dear Mr. Old Man,

Could you please answer this question? In case the presentation is COMPLYING, can the negotiating bank recall the shipping documents irrespective that the applicant does not agree with this action?

What is the difference if our bank is the transferring bank and the bank recalling the documents is the second beneficiary’s bank?

Awaiting your soonest reply

Thank you,

Ka

————

ANSWER

Hi,

I must say your issue is not covered in UCP.  It is the issuing bank that will decide whether or not it should comply with the negotiating bank’s request for returning the documents. The issuing bank should also ask for the applicant’s agreement if it has advised the applicant of the presentation of complying documents. The issuing bank cannot comply with the negotiating bank’s request if the documents have been released to the applicant who does not agree to return the documents.

The answer is the same if the transferring bank has advised the first beneficiary of the presentation and the first beneficiary would like to substitute the documents (invoice and drafts) rather than return the documents to the second beneficiary.

Kind regards,

Mr. Old Man

Load More Related Articles
Load More By Mr Old Man
Load More In Uncategorized

Leave a Reply

Your email address will not be published. Required fields are marked *

Check Also

QUESTION REGARDING THE TRANSFERRING BANK’S LIABILTY UNDER THE TRANSFERRED LC

QUESTION Dear Mr. Old Man, Em có 2 câu hỏi về LC chuyển nhượng như sau: Khi người thụ hưởn…