An exporter or importer has to deal with bank at different stage during Export – Import Transaction like:

 

-         Letter of Credit (L/C) Opening,

-         Performa / Proforma Invoice or Contract submission

-         Letter of Credit (L/C) advising,

-         Pre-Shipment Financing,

-         Post-Shipment Discounting,

-         Documents Negotiation,

-         Documents Submission,

-         Payment Remittance (outward remittance or inward remittance),

-         Documents forwarding at various stage etc.

 

Each of these activities are governed by set of laws, rules and regulations and any function is to be completed in within some time limitations; violating which invites legal issue.

 

-         What are the client compliances as an exporter / importer?

-         What are bank responsibilities and compliances?

-         What are the rights and obligations of the both the parties (Banker vs. exporter / importer)?

 

All such questions are well defined in International Laws relating to export / import.

 

During EXIM transaction when any part fails to obey their obligations and violate any rules and regulations, legal suit becomes inevitable.

 

In this topic Export Import Legal Summit (Banking), we try to deal with the cases contested by exporter or importer with different bank, may it be remitting bank, colleting bank, advising bank, issuing bank, reimbursing bank, confirming bank, paying bank or other.

 

These cases are rich source of EXIM Educational Training especially International Trade Learning in context of International Laws to educate us rights and obligation of parties to the agreement (i.e. bank vs. exporter / importer), helping us avoiding mistakes in our Import and Export Business transactions. In our International Trade Learning Institute, we have one segment dealing with Banking cases under IB CLINIC (International Business Clinic).