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You have supplied goods against the LC issued by a GCC bank, presented your documents, which has been accepted hy the LC issuing bank to be due onth June. Even on8th July your account has not been credited.
if the L/C is confirmed by the advising bank. you can calim and demand funds from the confirming bank. in turn the confirming bank will claim the funds from the issuing bank according to the initial paymenyt instructions. either the issuing bank account with the the advsing bank will be debited automatically, or the advsing bank bank will calim the funds from the reimbursing bank. according to UCP rules.
Immediately we have to send reminder mail or visit the client office, and highlight the issue with stake holder.
