Sir,
As you know the Iran-India payment issues are going on and UCO bank is the only bank to settle the payments through L/C.
My queries are:
1)What will be the actual mechanism of payment?
2) What will be the currency for transaction?
3) What if we have the a/c in other bank say PNB then who is liable to pay us the money? UCO will settle or PNB ?
4)How many banks will be involved if we have a/c in other bank?
5) Can we get the payment upfront against L/C or I have to wait for 120 days or the specified period mentioned in L/C?
Kindly waiting for your replies.
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Please suggest me right option................................
Regards,
Alpesh G. Jogale
Sir,
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Kindly guide me.
With regards
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Thanking you.
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Iran india payment issues