Legal Opinion regarding the legal notice served by Company 1 on a/c of Company 2.

Mr. Z

Address….

Dear Sir

RE:     Legal Opinion regarding the legal notice served by Company 1 on a/c of Company 2.

We refer to your letters no. ……………….. dated 02 October 2006  and no. …………………… dated 08 October 2006 and our letter no. …………………..dated October 06, 2006 on the above subject.

On perusal of your letters it is apparent that you require our legal opinion regarding the legal notice dated 24/09/2006 sent by Company 2 and require us to give our legal opinion regarding the next course of action to be taken against the borrower to realise the bank’s due and to protect the interests of the bank.

OUR OPINION:

After perusing the provided documents and the relevant law including ICC Uniform Customs and Practice for Documentary Credits, it is apparent to us that the allegations made by Company 2 is without any legal base, unfounded and misconceived.

The next course of action to be taken by Bank 1 (“BANK 1”) is to give a reply to this legal notice. A draft reply has been prepared by us and is attached with this legal opinion. Kindly peruse the draft, examine facts and figures and fill in the blanks. Kindly send the reply to the lawyers.

In order to realise BANK 1’s outstanding dues, BANK 1 has to send a legal notice to Company 2 demanding the outstanding amount followed by filing suit.

Should you have any further query, do not hesitate to revert to us.

Thanking you.

Yours faithfully,

………………….

For: “The Lawyers & Jurists”

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