Documents Against Payment terms in international trade
This query is : Resolved
05 September 2022
One of my friend from Tanzania exported goods to his customer in India on DP (CAD) terms. Customer's bank collected the payment from the customer and handed over the original shipping documents to the customer. The customer's bank is delaying payment to my friend on some or the other pretext like there is some technical fault in the system etc and assuring everyday but not sending the payment. What legal option my friend has to recover this amount from the Bank.
05 September 2022
Issue legal notice to the bank for early settlement.
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