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Shalin Shah   04 August 2021

Foreign exchange


We received an order from Dubai. We send Proforma Invoice to Dubai of Company. Dubai-Company has send us multiple Payment Remittance copies but finally payment has not been received in our bank account. Dubai-Company is sending us an email that they have a proof that money has been received in our Indian Bank Account and now if we will not return they will start Court Case in International Arbitration Case. My questions :

1) Is it possible to register case, while they placed an PO on us ?

2) Is it possible to track payment up to bank in India with strong proof ?

3) What can be done in this case ?



 1 Replies

Archana Pandey   10 January 2022

Yes, they can file a fresh case in India. However, if the terms and conditions mentioned in PO, is subject to UAE law, then the case cannot be filed in India. Although, they can go for International Arbitration case.
Before check in Bank for payment acknowledgement, Ask them for the bank audit trail.
That would include:
Their bank name and details including their account number and name
That bank’s “Correspondent Bank” for the currency you are working in.
Both Banks IBAN or SWIFT Codes.
Your bank name and details , including the intended account and name
Your bank’s “Correspondent Bank” for the currency you are working.
Both those Banks IBAN and SWIFT Codes to.
The two sets of information should provide you and the international clearing system with a full audit trail. Usually the money is “sitting” in a suspense account as one of the codes is wrong, and either is sitting in one of the correspondent Banks’ as unapplied funds, or been sent back to the originator.

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