INVOICE SHOWING FREE OF CHARGE GOODS AND… INVOICE SHOWING FREE OF CHARGE GOODS AND… QUESTION Dear Mr. Old Man, Could you please provide your opinions on the following questions? QUESTION 1 The L/C requires: – Commodity: Pharmaceutical products – Description: Details of quantity and unit price as per Contract No. 123 – Total amount: USD 100,000.00 (+/-10%) The invoice presented shows: – Commodity: Pharmaceutical products – … Read More
WHERE INVOICE INDICATES GOODS NOT CALLED FOR IN THE LC QUESTION Dear Mr. Old Man, I have the following case: The beneficiary presented the documents including invoice to our bank for negotiation. In addition to the goods required in the LC, the invoice also indicates additional goods and unit price with a note “no commercial values”, and the total invoice amount does not include the value of these additional goods. … Read More
IS THE NOMINATED BANK REQUIRED TO VERIFY WHETHER THE BENEFICIARY HAS AUTHORIZED THE PRESENTING BANK TO PRESENT THE DOCUMENTS?
CAN THE ISUING BANK CITE “LATE PRESENTATION” AS A DISCREPANCY SOLELY BASED ON THE DATE OF THE COVER LETTER?
IS THE NOMINATED BANK REQUIRED TO VERIFY WHETHER THE BENEFICIARY HAS AUTHORIZED THE PRESENTING BANK TO PRESENT THE DOCUMENTS?
CAN THE ISUING BANK CITE “LATE PRESENTATION” AS A DISCREPANCY SOLELY BASED ON THE DATE OF THE COVER LETTER?