QUERY ON COURIER RECEIPT
Tue, 11/11/2008 – 01:56 — dandvdaly
We are the ben. for an LC (UPC latest version) that we presented to issuing bank. Issuing bank has claimed discepancy for : "not presenting original of courier receipt" showing that one set of shipping docs have been sent to applicant. LC does not state "original" courier receipt. It simply says "courier receipt". Furthermore, the "original" courier receipt has to go with the docs being couriered so it is not even practical. HSBC is the advising bank. We asked them to review docs before they were sent to issuing bank, which they did and found no discrepancies. WHat should we do next. Talking to the customer is not an option.
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Despite pressure from HSBC, issuing bank is still claiming the courier receipt is not "original". Obviously they are using this as a reason not to pay with is ridiclous and corrupt. The issuing bank is JSC Bank for Foreign Trade of Vietnam. We have submitted the same courier receipt on hundreds of presentations and it has never been an issue. It is so frustrating that the issuing bank can do this. Do we have any legal remedies with issuing bank?
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ANSWER FROM MR. OLD MAN
Fri, 11/21/2008 – 09:49 — nhduc.dng
Taking legal action is not a good solution
Hi,
I just want to reaffirm Tulsi’s and Peter M’s view that the discrepancy raised by the issuing bank is valid. It is commonly understood that the original shall be presented when the LC does not expressly state if the original or copy is required as in accordance with Article 17 (a) at least one original of each document stipulated in the LC must be presented.
I do not think taking legal action against the issuing bank is a good solution in this case. You had better pursuade the applicant to waive the discrepancy and effect the payment or ask for the return of the documents and/or look for another buyer.
Good luck,
Best regards,
Nguyen Huu Duc …
