Irrevocable letter of credit
This query is : Resolved
06 October 2012
DEAR SIR / MADAM
UNDER IRREVOCABLE LETTER OF CREDIT WHAT CLAUSE WE SHOULD ADD SO THAT OUR BANK GETS "NOTIFIED CREDIT" WITHOUT SUBMITTING PROOF OF DELIVERY FOR CONSIGNMENT. WE ARE FACING PROBLEM FOR GEETING NOTIFIED CREDIT BEFORE EXPIRY OF L/C. WE ARE NOT ABLE TO GET OUR L/C DISCOUNT, ALWAYS OUR BANK ASK ACCEPTANCE/CONCERN FROM CONSIGNEE. ON OTHER HAND CONSIGNEE TAKES STAND THAT WITHOUT COMPLETING DELIVERY OF CONSIGNMENT THEY DON'T GIVE APPROVAL TO THEIR BANK FOR DICOUNTING / NOTIFIED CREDIT. PLEASE HELP & REPLY
UNDER IRREVOCABLE LETTER OF CREDIT WHAT CLAUSE WE SHOULD ADD SO THAT OUR BANK GETS "NOTIFIED CREDIT" WITHOUT SUBMITTING PROOF OF DELIVERY FOR CONSIGNMENT. WE ARE FACING PROBLEM FOR GEETING NOTIFIED CREDIT BEFORE EXPIRY OF L/C. WE ARE NOT ABLE TO GET OUR L/C DISCOUNT, ALWAYS OUR BANK ASK ACCEPTANCE/CONCERN FROM CONSIGNEE. ON OTHER HAND CONSIGNEE TAKES STAND THAT WITHOUT COMPLETING DELIVERY OF CONSIGNMENT THEY DON'T GIVE APPROVAL TO THEIR BANK FOR DICOUNTING / NOTIFIED CREDIT. PLEASE HELP & REPLY
08 October 2012
That means the terms of LC in your favour have to be without such condition of proof / acceptance of delivery; It has to be an L/C without such problematic terms / conditions that you may face while negotiating under such L/C
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- About TDS & Income Tax
- Section 194JA & JB Income which ITR Form to use
- Pass word to open justification report for Q1 for FY 2026-27
- PPF interest-As Exempt Income disclosure
- Under construction property in ITR
- Scrutiny and reopening of past returns
- Booth for sales promotion
- Upload Level ValidationITR3Category of Defect B/D
- Building tax payment deduction in rental Income
- F & O PROFIT REPORTING FOR AY 2026-27
- Difference in GSTR3B system generated which is correct and actual Payment it asks
- Indian IT Portal issue in computing tax as per UK-India DTAA
- Capital Gains on sale of residential flat
- PF Taxable Income
- Clarification on Tax Audit Applicability and Reporting of F&O Transactions in ITR-3
- Interest credited in FY2025-2026 & TDS therein by EPFO does not reflect in AIS or Form 26AS
- 44ad eligble money lending interest
- Taxation in the hands of Landowner under JDA
- Delisted shares sold in off market/ Rebate u/s87A
- In Exports Sales HSN details where to fill
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
