Hello there! Our business applies for a letter of credit and imports goods. materials sent to our bank, but they won’t provide copies of the paperwork to us. Can we insist on relying on any UCCP600 article?
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I’ve been in a similar spot before. If your bank isn’t giving you copies, you might want to check out UCP 600, especially Article 7. It talks about the bank’s duty to provide documents. You can definitely bring it up with them. Just a heads-up, it might help to be clear and persistent.
Consider sending an authorized signer from the account to pick up the documents from a branch. Alternatively, you could speak with your business banker and request that they provide the documents for you.
Hello! Under UCP 600, which governs letters of credit, there isn’t a specific article that requires a bank to provide copies of documents to the applicant (importer). The rules mainly focus on the obligations between the bank, beneficiary, and applicant regarding document handling. While you can request copies from the bank, they aren’t obligated under UCP 600 to comply. It’s best to communicate your need clearly with the bank, referencing your role in verifying document accuracy. If they still refuse, you might need to consult your specific credit agreement or seek advice from a trade finance expert to explore your options.