Chase Bank Should Pay MCC
Yes, I agree with the statement Chase bank should pay MCC, because the issue of Brazil was at International level. I will give it scale 9, which is persuasive. To explain the answer explanation of MCC, DDT and chase bank is as follow:
Dichlorodiphenyltrichloroethane (DDT) it is the tasteless, colorless and odorless pesticide, which was used in USA in 1940’s. This insecticide used to kill insects like mosquitoes and other insects, which has which has virus in that. This was the effective for insect control in crop, livestock, homes and garden. However, in USA this pesticide was banned in 1972 because it created virus in people like cancer in human. The pesticide also kills animals and birds. It contains large amount of dangerous chemicals and affect the human health. U.S department of agriculture prohibited the use of DDT for environmental protection. At that, time when human and animals was inspected scientist then prohibited insecticide.
A chemical manufacturer company, The Missouri Chemical Co. (MCC) its head quarter was in Kansas City of Missouri. In this company, very small amount of DDT produces every year, which they also give as aid to African countries to fight against malaria. In Brazil, there is still mosquito’s virus. It is the zika virus and no vaccination is there for zika.
Brazil have no control over their viruses they think to get DDT from MCC, the government of Brazil wants to get DDT in large amount because they want to finish malaria virus from their country. MCC agreed to give them DDT in large amount at price US$25 million. Brazil gives US $8million in advance and unpaid balance of 17% was agreed to give in the end. After that, MCC started made DDT. MCC wants that Brazil should give them check of unpaid balance from Bank of International reputation and this letter should be signed by Ministry of health. Then Brazil ministry of health and Chase bank wrote irrevocable letter governed by general principles of private international law and baking customs. After the chase bank has written the document, the MCC finally takes decision of shipment. DDT has to go through shipment.
Chase Bank Pays MCC And Brazil Then Reimburses Chase Bank
The Brazilian ministry of health signed the letter that if DDT will reach through shipment on February 1 then they will pay the money, but if ship do not reach before two, 2016. February then Brazilian ministry or MCC is not responsible. The ship reached before 1 February but the agents appointed by Brazil that they would report when ship will leave from Houston, but they were failed to tell that shipment left from Houston. On the evening of February 2, there were large ocean swells in the Caribbean Sea, and it became reason of lost of 80 tanks from 250 tanks. On the morning of third February Houston, based agents finally reported the ministry of Brazil that the shipment has departed on January 31 from the Houston. After Brazil come to know about the lost of DDT 80 tanks, ministry of Brazil give presentation to US bank to take some action against MCC. However, MCC do not want US bank to pay standby letter of credit.
On February 3, MCC delivered the bill to the chase bank to deliver the money. Chase bank then review the documents that money should be paid or not. After when if chase bank paid once to MCC then Brazil has no right to ask for the reimbursement. I am agreeing to the statement. I will give it scale 8, which mean the statement is persuasive. If the chase bank had given the cash of US$17, to the MCC. Which were the leftover money then Brazil cannot ask to give money back. Because the bank once spent money, it is not the fault of bank, if the shipment is successful or fails. Well some tanks of the DDT reached safely but brazil has returned the tanks, and they want their money back, so it is the responsibility of banks to give money to the MCC because they have make the DDT for Brazil. Reimburse may take place in the case, if Brazil did not get any quantity of DDT tanks.
US Bank Should Not Pay Brazil
MCC applied to US bank through ministry of health of Brazil that they need favor because the documents were signed by the ministry of health. The US department of commerce also required the DDT. Nevertheless, due to the Brazil has rejected all the tanks. The commerce department has to suffer a lot. There was no expiry date for the shipment late delivery that if the shipment fails then nobody has to pay the money. Private international law and banking custom were agreed on agreement, and under their all the requirements were signed. However, it was written nowhere that US bank will pay the Brazil.
I am agreeing US bank should not pay Brazil; I give it 10 scales because Brazil should not reject the tank of DDT at least Brazil should accept the tanks, which reached safely to them. In addition, Brazil should not ask for the reimbursement because it is their fault if they have not accepted. The money should be given to MCC because they make heavy amount of DDT just for Brazil. Why should US pay to Brazil if shipment has failed, or bad happened to it.
Brazil needs DDT so they should not refuse to the left amount. US representing the MCC, so Brazil if needed DDT then should keep some amount. US bank has not committed anything with Brazil or there no insurance policy by the US bank, US bank has no responsibility to return the money of Brazil. Brazil wants to cover its loss so it sues MCC and Chase bank and MCC sues Brazil and US bank. Brazil should not ask to give money back. Because the bank once spent money, it is not the fault of bank,
Brazil should take the left amount of DDT to control over it diseases. There were problems of malaria in the country. Commerce department and ministry of health should have to control all the problems related to malaria in this case, DDT was necessary.
Brazil should not reimburse MCC because Brazil did not accept DDT tanks from MCC after sinking 80 tanks into sea. Same as, US Bank should not pay Brazil. Brazil should not reject the tanks of DDT. At least Brazil should accept the tanks, which reached safely to their country. Moreover, Brazil itself should not ask for the reimbursement because it is their responsibility to accept it. The money should be given to MCC because they make heavy amount of DDT just for Brazil. US Bank has to pay to Brazil if shipment has failed to reach at shore.
MCC delivered the bill to the US bank to deliver the money, on February 3. US Bank then review the documents that money should be paid or not. After when if US Bank paid once to MCC then Brazil has no right to ask for the reimbursement. Because the bank once spent money, it is not the fault of bank, if the shipment is successful or fails. Well some tanks of the DDT reached safely but brazil has returned the tanks, and they want their money back, so it is the responsibility of banks to give money to the MCC because they have make the DDT for Brazil. Reimburse may take place in the case, if Brazil did not get money from US Bank.