QUERY FROM COLDSUMMER
Anh oi, anh co the chi giup em trong LC o truong 41d thuong co cac loai xuat trinh:
By Negotiation
By Payment
By Def Payment
By acceptance,
Chung khac nhau nhu the nao va khi nao thi su dung a.
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COMMENT FROM MR. OLD MAN
Hi ColdSummer,
Yours is the same as Neville Dcosta’s query which Mr. Old Man answered on Letter of Credit Forum and re-posted to his blog. Please view the following:
Sun, 09/09/2007 – 07:51 — nevilledcosta
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Dear Sir
I would like to know what is the difference between l/c available by Payment, available by Negotiation, available by Deferred payment and available by Negotiation.
Regards,
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Neville Dcosta
M
R. OLD MAN’S RESPONSE
“Dear Neville Dcosta,
As you may know, an LC may be stipulated available by payment, available by negotiation, available by acceptance or available by deferred payment.
LC available by (sight) payment does not require sight drafts to be presented and normally the payment is to be effected at the counter of the issuing bank or at its nominated bank upon receipt of the complied documents. The beneficiary under LC available by payment normally may not obtain the payment in advance by negotiating (selling at a discount) the documents at his bank.
Different from LC available by payment, LC available by negotiation allows the beneficiary to receive the payment by negotiating the sight drafts and documents at a nominated negotiating bank which is normally located in his country. The negotiation may be effected on a with or without recourse basis. However, under a confirmed LC, the confirming bank must negotiate the documents on without recourse basis…”
TO READ THE FULL TEXT OF THIS ARTICLE, PLEASE CLICK HERE:
http://blog.360.yahoo.com/blog-VrcvahU_c6KPy_Q58q0lTZc-?cq=1&tag=lcavailability
Please do not hesitate to ask Mr. Old Man if you have further questions.
Best regards,
Mr. Old Man …
