Common use of Export Documents Clause in Contracts

Export Documents. 3.1 The Customer shall pay the Bank not later than the applicable date an amount equal to the amount due under bills negotiated or endorsed by the Bank, whether or not drawn under a Documentary Credit or Standby Credit, which are dishonoured or not paid on their due date(s). Non-payment shall be deemed to have occurred if the Bank has not on their due date(s) received unconditionally the whole sum due. The Bank shall have full recourse against the Customer in these cases irrespective of the reason for dishonor or non-payment. 3.2 The Customer shall also reimburse the Bank immediately on demand for advances or Trade Finance Facilities made against any documents which have not been duly taken up on presentation or in respect of which payment has not been duly made to the Bank. 3.3 The Bank is authorised, at its sole discretion and on such conditions as it thinks fit from time to time, in relation to any bill, whether or not drawn under a Documentary Credit or Standby Credit: (a) to take conditional acceptances and/or acceptances for honour and/or to extend the due date(s) for payment; (b) to accept payment from the drawees or acceptors before maturity under rebate or discount; (c) to accept part payment before maturity and to deliver a proportionate part of the Goods to the drawees or acceptors of the bills or the consignees of the Goods; (d) to deliver up the shipping or other documents relating to any bill only upon payment in full or part payment of such bill, notwithstanding that such procedure may be contrary to the previous instructions of the Customer, if the Bank, its offices, correspondents or agents deem it advisable; (e) at the request of the drawees, to delay presentation of any bill for payment or acceptance, without prejudicing or affecting the liabilities of the Customer to the Bank in respect of such bill, unless the Bank has received prior explicit instructions from the Customer to the contrary; (f) to protest any bill which is dishonoured and to take any other steps which the Bank may consider necessary or desirable to protect its rights and interest in such bill; and (g) to institute proceedings and to take steps for the recovery from the acceptors or endorsers of any bill of any amount due in respect of such bill, despite the Bank having debited the account of the Customer with the amount of such bill.

Export Documents. 3.1 The Customer shall pay the Bank not later than the applicable date an amount equal to the amount due under bills negotiated or endorsed by the Bank, whether or not drawn under a Documentary Credit or Standby Credit, which are dishonoured or not paid on their due date(s). Non-payment shall be deemed to have occurred if the Bank has not on their due date(s) received unconditionally the whole sum due. The Bank shall have full recourse against the Customer in these cases irrespective of the reason for dishonor or non-payment. 3.2 The Customer shall also reimburse the Bank immediately on demand for advances or Trade Finance Facilities made against any documents which have not been duly taken up on presentation or in respect of which payment has not been duly made to the Bank. 3.3 The Bank is authorisedauthorized, at its sole discretion and on such conditions as it thinks fit from time to time, in relation to any billb▇▇▇, whether or not drawn under a Documentary Credit or Standby Credit: (a) to take conditional acceptances and/or acceptances for honour and/or to extend the due date(s) for payment;, (b) to accept payment from the drawees or acceptors before maturity under rebate or discount; (c) to accept part payment before maturity and to deliver a proportionate part of the Goods to the drawees or acceptors of the bills or the consignees of the Goods;, (d) to deliver up the shipping or other documents relating to any bill till only upon payment in full or part payment of such billb▇▇▇, notwithstanding that such procedure may be contrary to the previous instructions of the Customer, if the Bank, its offices, correspondents or agents deem it advisable; (e) at the request of the drawees, to delay presentation of any bill b▇▇▇ for payment or acceptance, without prejudicing or affecting the liabilities of the Customer to the Bank in respect of such billb▇▇▇, unless the Bank has received prior explicit instructions from the Customer to the contrary; (f) to protest any bill b▇▇▇ which is dishonoured and to take any other steps which the Bank may consider necessary or desirable to protect its rights and interest in such billb▇▇▇; and (g) to institute proceedings and to take steps for the recovery from the acceptors or endorsers of any bill b▇▇▇ of any amount due in respect of such billb▇▇▇, despite the Bank having debited the account of the Customer with the amount of such billb▇▇▇.