Hello
We have received a document called as Bank Contract from our customer which seems like combination of LC & DP.
We have informed by the customer that original copy of such bank contract (BC) is not necessary to receive in our bank & we can proceed the shipment.
& as we do in LC terms-that submits the documents to Importer's bank through our bank(exporter) have to do the same
but then there aren't our bank details mentioned on BC
only our name is written over there as supplier.
please advise on this BC(bank contract) term
Uncertain Supplier Seeks Advice on Hybrid Bank Contract: Mix of LC and DP Without Bank Details for Shipment Processing. A participant in a discussion forum seeks advice on a document referred to as a Bank Contract received from a customer, which appears to be a mix of Letter of Credit (LC) and Documents Against Payment (DP). The customer indicated that the original Bank Contract is not required at the bank for shipment processing. The participant is uncertain about submitting documents through their bank, as is typical with LC terms, since their bank details are not included on the Bank Contract, only their name as the supplier. They are requesting guidance on how to proceed with this Bank Contract. (AI Summary)
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