Interlegal settled the problem concerning payment delay for the supplied goods
The Client, foreign trader, filed a request to Interlegal upon the Buyer’s overdue payment of the supplied lot of barley on FOB terms port of Ukraine.
When Interlegal received the request, the vessel, on board which the goods were supplied, already commenced to discharge the cargo in one of the North African ports. Original cargo documents were released by the Bank to the Buyer. Bills of lading were endorsed to third parties – final consignees in the country of destination.
The Client, like the Seller, lost full control over the goods and documents, however, failed to receive payment according to the terms of the Contract. The Seller's numerous demands on payment for the goods supplied remained without any consideration both from the side of the Buyer and the Bank.
Taking into account the current situation, the Client applied to Interlegal. Upon the request, lawyers started claim handling process and held negotiations with the Bank. Being correctly and promptly addressed, legal actions resulted in full payment for the goods.