L/C: T12345HBI dated 28'h April, 2021
Amount: USD215.863.75
L/C at sight
Advising Bank: CBC Shanghai
Beneficiary: Champland Steel Co., Ltd - HongKong
Applicant: Phuc Anh Co., Ltd
Issuing bank: ABC bank, Vietnam
After examining the presented documents, ABC bank advised the applicant about the compliance of documents and then Phuc Anh Co. agreed to pay and receive the documents for taking delivery.
ABC bank debited Phuc Anh's account and transferred money to the beneciary on Friday 11th June 2021.
In the morning of 12nd July, 2021, Phuc Anh completed the imported customs clearance and trucked the container to their warehouse, but when the container went through the scaling machine, the machine showed that the weight of the container was very light, not same as the nature of the ordered goods. Phuc Anh immediately advised the ABC bank to hold the payment, but it was impossible because the transferring order went out.
According to ABC bank's recommendation, Phuc Anh asked SGS VN to survey the container while unpacking this container, and the survey report showed that the goods shipped in container were not ones ordered by Phuc Anh.
a. Who bears the above risk? Why?
b. Please suggest solutions to protect Applicant's benefit in future.
(Mọi người giúp em case này với ạ. Em cảm ơn ạaa)
Amount: USD215.863.75
L/C at sight
Advising Bank: CBC Shanghai
Beneficiary: Champland Steel Co., Ltd - HongKong
Applicant: Phuc Anh Co., Ltd
Issuing bank: ABC bank, Vietnam
After examining the presented documents, ABC bank advised the applicant about the compliance of documents and then Phuc Anh Co. agreed to pay and receive the documents for taking delivery.
ABC bank debited Phuc Anh's account and transferred money to the beneciary on Friday 11th June 2021.
In the morning of 12nd July, 2021, Phuc Anh completed the imported customs clearance and trucked the container to their warehouse, but when the container went through the scaling machine, the machine showed that the weight of the container was very light, not same as the nature of the ordered goods. Phuc Anh immediately advised the ABC bank to hold the payment, but it was impossible because the transferring order went out.
According to ABC bank's recommendation, Phuc Anh asked SGS VN to survey the container while unpacking this container, and the survey report showed that the goods shipped in container were not ones ordered by Phuc Anh.
a. Who bears the above risk? Why?
b. Please suggest solutions to protect Applicant's benefit in future.
(Mọi người giúp em case này với ạ. Em cảm ơn ạaa)
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