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متابعة

Tenor-120 days sight with N.B by acc. Bene Present doc. to N.B it accept the doc as complaint. I.B Find some discre. How maturity will be calculated?

LC Available with nominated Bank XXXX By Acceptance.Payment term at120 days sight. Beneficiary Presented document to Bank XXXX. Bank XXXX accepted the document as complaint and forwarded to Issuing Bank. Issuing Bank Found some serious discrepancies. Now who will determined the maturity date? How it will be calculated?

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تم إضافة السؤال من قبل MD. KHAZA MAHIUDDIN , SENIOR EXECUTIVE OFFICER , SOCIAL ISLAMI BANK LTD.
تاريخ النشر: 2015/06/25
MD. KHAZA MAHIUDDIN
من قبل MD. KHAZA MAHIUDDIN , SENIOR EXECUTIVE OFFICER , SOCIAL ISLAMI BANK LTD.

In my question i said that LC is available with NB By Acceptance and NB accept the document.

So who will calculate the maturity?

 

'IMO as LC is available with NB by acceptance & NB accept the document as compliant .So NB need to provide the maturity to Beneficiary within5 working days(in this case NB will calculate the maturity). NB will bear the loss for his negligence if IB provide the date of maturity later than NB's maturity date. '

 

Other comment necessary

REHAN AHMED
من قبل REHAN AHMED , Sr Import Officer , BankIslami Pakistan Ltd.

If L/C is available with the NB, NB will forward documents to IB.

When IB found discrepant documents they will intimate to Applicant, Now it depends on applicant either they accept the discrepancy or not, When they accept the discrepancy, Applicant will calculate the Maturity Date (by acceptance)

and accept the draft and present it to IB and IB will send a msg of acceptance to NB 

faiz qayium
من قبل faiz qayium , Purchasing Representative , Abu Dhabi Investment Council

Maturity date should not be affected if the applicant is accepting the discrepancy however if they don't accept it then it's all togeather a different issue and probably payment cannot be released by the bank till it is sorted out.

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