Wire Transfer Ownership

This is a discussion on Wire Transfer Ownership within the International Law Issues forum, part of the INTERNATIONAL LAW category; I am doing business with a company that requires funds in Singap[ore currency be wire transfered from my Singapore office ...

Consult Your Own Personal Lawyer Now!
Reply

 

Thread Tools Search this Thread Rate Thread Display Modes
Old Mar 27th, 2008, 11:53 AM   #1
KCK
Guest
 

KCK's Avatar
 
Posts: n/a

Default Wire Transfer Ownership

I am doing business with a company that requires funds in Singap[ore currency be wire transfered from my Singapore office to the US. The routing the company insists upon includes a correspondent bank, an intermediary bank and the beneficiary bank.

We tried it once and the funds were held by the correspondent bank for 25 days with little effort on the companies part to resolve the issue. We now have the funds back and need to make a large transfer and want to skip their correspondent bank and send directly to the intermediary bank but they say this is not possible. We asked them to be responsible for the money once it is received by the correspondent bank but they refuse as they insist that is not thier bank.

Other than refusing to do business with this company how do we get around this.

Thanks for any advice or insight you can provide.
  Reply With Quote
Old Mar 28th, 2008, 06:25 PM   #2
Veteran Member
 

Law200's Avatar
 
Join Date: Feb 2007
Posts: 314

Default Re: Wire Transfer Ownership

You could change banks and get a bank that is in both locations.
Law200 is offline   Reply With Quote
Reply

Bookmark & Share

Tags
None

This thread has 1 reply and has been viewed 556 times

Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes Rate This Thread
Rate This Thread:

| More

Posting Rules
You may post new threads
You may post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off

Format Your Messages
Add Forum to Google Toolbar
Forum Jump

Similar Threads

Thread Thread Starter Forum Replies Last Post
BOTCHED Wire Transfer to China???? Unregistered Credit Cards, Banking, Securities 2 May 4th, 2009 07:40 AM
International wire transfer lost Unregistered International Law Issues 11 Mar 26th, 2009 07:34 AM
Wire transfer to India failed to arrive Unregistered International Law Issues 1 Dec 13th, 2008 11:42 AM
Wire Transfer, No Product Unregistered International Law Issues 1 Feb 1st, 2007 09:27 AM
Wire Transfer lost due to Bank negligence Unregistered Other Business & Finance Law Issues 1 Jan 3rd, 2007 03:24 PM


International Law Issues?


All times are GMT -5. The time now is 04:15 AM.