DEAR FRIENDS
I AM A IMPORTER FROM BANGLADESH ,USUALLY IMPORTS SECONDARY STEEL SHEETS FROM JAPAN.
IN AUGUST 2008 I OPENED AN IRREVOCABLE L/C ,BUT NOW WHEN THE SHIPMENT ARRIVES AT CHITTAGONG PORT I FOUND THE GOODS FAULTY AND BEFORE THAT I FOUND THE DOCUMNETS PROVIDED BY EXPORTER IS FAULTY.I ASKED MY EXPORTER TO EXPLAIN FOR HIS FAULT ,BUT HE BEHAVE SO INHUMANLY AND REFUSED TO CONSIDER ANY DISCOUNT.
SO NOW AS HIS DOCUMENTS IS DISCREPANT ,I WILL NOT ACCEPT IT AND WILL NOT PAY HIM UNLESS HE GIVE ME DISCOUNT ,IF HE DONE AGREE TO GIVE ME DISCOUNT I WILL NOT ACCEPT HIS GOODS.
MOREOVER HIS L/C WILL EXPIRE ON 4TH NOVEMBER 2008,SO I WANT TO KILL THE TIME ALSO SO THAT HE WILL NOT BE ABLE TO LEGALLY IMPOSE ANYTHING ON ME.
PLS ,HELP ME ADVISING ME TIPS.I AM TELLING YOU THIS EXPORTER IS A ROBBER RATHER THAN A BUSINESSMAN.FOR EXAMPLE HE SHIPOUT 3 FEET LENGTH SHHETS ,BUT WE CONTRACTED FOR 8 FEET.AND WEIGHT IS ALSO 20% LESS THAN THE AGREED WEIGHT.
MOST IMPOTANT HIS DOCUMNETS HAVE DISCREPANCY AND NOW HE IS ASKING ME TO ACCEPT THAT,I WILL NOT.!
PLS ADVISE ME.
THNAKS
RIKEN
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Quoting from [riken]:DEAR FRIENDS
I AM A IMPORTER FROM BANGLADESH ,USUALLY IMPORTS SECONDARY STEEL SHEETS FROM JAPAN.
IN AUGUST 2008 I OPENED AN IRREVOCABLE L/C ,BUT NOW WHEN THE SHIPMENT ARRIVES AT CHITTAGONG PORT I FOUND THE GOODS FAULTY AND BEFORE THAT I FOUND THE DOCUMNETS PROVIDED BY EXPORTER IS FAULTY.I ASKED MY EXPORTER TO EXPLAIN FOR HIS FAULT ,BUT HE BEHAVE SO INHUMANLY AND REFUSED TO CONSIDER ANY DISCOUNT.
SO NOW AS HIS DOCUMENTS IS DISCREPANT ,I WILL NOT ACCEPT IT AND WILL NOT PAY HIM UNLESS HE GIVE ME DISCOUNT ,IF HE DONE AGREE TO GIVE ME DISCOUNT I WILL NOT ACCEPT HIS GOODS.
MOREOVER HIS L/C WILL EXPIRE ON 4TH NOVEMBER 2008,SO I WANT TO KILL THE TIME ALSO SO THAT HE WILL NOT BE ABLE TO LEGALLY IMPOSE ANYTHING ON ME.
PLS ,HELP ME ADVISING ME TIPS.I AM TELLING YOU THIS EXPORTER IS A ROBBER RATHER THAN A BUSINESSMAN.FOR EXAMPLE HE SHIPOUT 3 FEET LENGTH SHHETS ,BUT WE CONTRACTED FOR 8 FEET.AND WEIGHT IS ALSO 20% LESS THAN THE AGREED WEIGHT.
MOST IMPOTANT HIS DOCUMNETS HAVE DISCREPANCY AND NOW HE IS ASKING ME TO ACCEPT THAT,I WILL NOT.!
PLS ADVISE ME.
THNAKS
RIKEN
Maybe I have to guesting your problem, but for sure,
A. There's no obligation for Importer/applicant and Issuing bank to pay discrepant documents, except :
1. issuing bank has not reject the documents to nego/presenting bank/exporter bank in time allowed.
2. Issuing bank has accepted documents if there's for Usance Lc.
B. there's no connection between LC expiry date and payment documents if documents has been presented at issuing bank counter or usance LC documents has been accepted.