Global Trade Links
Non remittance of funds

GLOBAL TRADE LINKS

New No.14 (OLD NO 30), Prakasam Street

T Nagar, Chennai-600 017

Tel: 91 44 42125380

Fax: 91 44 42124380

E mail: globaltradelinks@ymail.com

13th September, 08

The manager

ICICI Bank Limited

Nungambakkam Branch

Chennai-34

Dear Sir,

Sub: Documents for collection

Ref: Current account No.000905019161.

We had submitted our invoice no.007-09 dated 4.7.08 along with the other documents for collection. The documents were submitted on 14th August, 08 and regret to inform you that the amount has not yet credited to our account. Understand from our buyer that they had already collected the documents and in fact the consignment had been cleared some time back. We fail to understand the reasons for such indefinite delay in crediting the amount to our account.

We are totally disappointed the way your bank had handled the issue. The inordinate delay in crediting the amount to us in time caused us hardship financially and our further exports had been affected for want of funds. We hold the bank responsible for the delay and consequent looses/damages caused to us. We also reserve our right to claim looses/damages caused to us in the near future.

We request you to kindly investigate and give us a reply on the entire episode from the time we submitted the documents till the amount is credited to us.

In spite of our repeated visits to your branch and telephone contacts, our grievance has not been addressed and we are surprised to receive such treatment from the bank like yours. Is it the way your bank treats the customers? How do you expect us to continue to bank with you by providing such services?

By no fault of us, now you are asking us to give an indemnity, to credit the amount in our account. As desired by you, we are attaching herewith the indemnity and please note that no charges should be levied on us other than the usual bank charges.

Our legal department would be contacting you shortly to get more details like the date of documents sent to the applicant’s bank, date of funds transferred by the applicant bank, date of funds received by your corresponding bank, Date of funds received by your bank and finally the date of amount credited to our account and request you to kindly extend your co operation and assistance.

Having submitted the indemnity, can we hope now the amount would be credited to us to day?

Looking forward for a reply on the above issue.

Thanking you,

Yours faithfully,

M G Ramadoss

Chief Executive Officer

Global Trade Links

#14, Prakasam Street

T Nagar

Chennai 600 017

Tel: 91 44 42125380

Fax: 91 44 42124380

HP: 91 98417 44844

email: globaltradelinks@ymail.com

web: www.globaltradelinks.in

Company: Global Trade Links
Country: India

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