https://www.taxtmi.com/forum/issue?id=108808 Bank Contract presented combines features of a Letter of Credit and documentary collection; it lacks the exporter's bank details and the customer states an original BC is not necessary. Key issue is whether the BC is an enforceable bank undertaking or merely buyer-seller instruction, which affects who bears payment risk and where shipping documents must be presented. Advisable steps are to verify any bank commitment, obtain written clarification and bank identification, ensure the exporter's bank is named or agreed procedures are documented, and secure written guarantees or confirmation before releasing goods. en-us Thu, 25 Jun 2015 17:01:33 +0530 Thu, 23 Jan 2025 15:56:50 +0530 TaxTMI RSS Generator https://www.taxtmi.com/forum/issue?id=108808 Bank Contract presented combines features of a Letter of Credit and documentary collection; it lacks the exporter's bank details and the customer states an original BC is not necessary. Key issue is whether the BC is an enforceable bank undertaking or merely buyer-seller instruction, which affects who bears payment risk and where shipping documents must be presented. Advisable steps are to verify any bank commitment, obtain written clarification and bank identification, ensure the exporter's bank is named or agreed procedures are documented, and secure written guarantees or confirmation before releasing goods. Discussion-Forum Customs Thu, 25 Jun 2015 17:01:33 +0530 https://www.taxtmi.com/forum/issue?id=108808