If buyer refuse to take the goods?
Post 1 of 25
I have a freind who are facing problem. He has shipped the goods within the validity of the LCs but suddenly the buyer saying they don't want the goods. What should he do?
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06 Nov 2006 14:30
Post 2 of 25
Replying to [parvez]: The L/C payment term is the most safe and fair for both sides. Under this payment, the bank is the first one who need to pay,but not the buyer. But do remember that your documents submitted must be 100% correct, or the bank or buyer has the right refuse to pay. So, what you need to do now is to submitt the neeeded documents but no worry.
07 Nov 2006 16:46
Post 3 of 25
Replying to [parvez]:You haven't mentioned, why buyer is refusing to accept? There may be somereason behind this. You tell to your friend first solve the problem with mutually that will be better. If not then he can go as per the LAW.
07 Nov 2006 18:18
Post 4 of 25
Replying to [parvez]:the best way to solve the problem is to ask the customer why ? and see if there is some misunderstanding about your communication of goods althoug he didn't see the goods yet.
Generally speaking,if your customer refuse the goods,he will instruct his bank to reject the documents negotiation,so it's some difficult to collect the payment from his bank even all the documents is right.
he has to insist on negotiating with the customer and bank with right document immediately.
Generally speaking,if your customer refuse the goods,he will instruct his bank to reject the documents negotiation,so it's some difficult to collect the payment from his bank even all the documents is right.
he has to insist on negotiating with the customer and bank with right document immediately.
07 Nov 2006 23:36
Post 5 of 25
Replying to [parvez]:
if your buyer refuses , ask him the reason for refusing if it is clear, then try to sell the cargo to some other buyers in the same country, if some one is ready to buy in other country try to do trans shipment, or L/c is usance then try to pull back the cargo to your country,
if your buyer refuses , ask him the reason for refusing if it is clear, then try to sell the cargo to some other buyers in the same country, if some one is ready to buy in other country try to do trans shipment, or L/c is usance then try to pull back the cargo to your country,
08 Nov 2006 01:09
Post 6 of 25
Replying to [parvez]:I think your friend did not get relevent clauses added to the L/C document,hence this trouble.
I am not sure about you contry's commerce regulations, hence can not suggest exact means. We have many safety mechanism in Indian rules.
I am not sure about you contry's commerce regulations, hence can not suggest exact means. We have many safety mechanism in Indian rules.
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08 Nov 2006 02:12
Post 7 of 25
Replying to [parvez]:If the LC is Irrevocable, confirmed and the goods is shipped as per LC terms, the buyer or buyer bank can not back out. The buyers bank should be approched to make the payment if the goods has already been shipped out.
08 Nov 2006 03:14
Post 8 of 25
rent an assasin and let him make a hole to buyers head.then analyze situation with account manager.![[em17]](http://img.alibaba.com/images/eng/style/icon/emoticons_shake_hands.gif)
08 Nov 2006 06:50
Post 9 of 25
rent an assasin and let him make a hole to buyers head.then analyze situation with account manager.
08 Nov 2006 07:07
Post 10 of 25
Replying to [parvez]:
My experience with L/C at sight is even if you watch your step very carefully in order not to make any discrepancies but sometimes Buyer (especially if they are not willing to buy the goods or have some other probems) could (with the help of their bank) could always find several discrepancies that you can't even imagine
My experience with L/C at sight is even if you watch your step very carefully in order not to make any discrepancies but sometimes Buyer (especially if they are not willing to buy the goods or have some other probems) could (with the help of their bank) could always find several discrepancies that you can't even imagine
08 Nov 2006 21:50
Post 11 of 25
Replying to [parvez]:
Your friend should check if the L/C is revocable or irrevocable. If not specified, the L/C is likely to be irrevocable. And in such a case, the L/C cannot be cancelled without the consent of the applicant, ie your friend. He should consult his bank.
Your friend should check if the L/C is revocable or irrevocable. If not specified, the L/C is likely to be irrevocable. And in such a case, the L/C cannot be cancelled without the consent of the applicant, ie your friend. He should consult his bank.
08 Nov 2006 21:59