Part consignment against letter of credit
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
29 May 2012
Dear Sir,
We had received Letter of Credit, of which we have exported part consigment. say out of L/C $20000, only exported for $10000, Later importer had cancelled the order for balance quantity.
We have sent Letter of credit for collection only those amount due to us against supply made.
Now bakers asking for write off certificate.
Since there is no due on our account against the party, Shall we issue write off certificate duly certified by CA ?
If not than what remedies to deal with bank ?
Please consider the matter as urgent and expect immediate response
We had received Letter of Credit, of which we have exported part consigment. say out of L/C $20000, only exported for $10000, Later importer had cancelled the order for balance quantity.
We have sent Letter of credit for collection only those amount due to us against supply made.
Now bakers asking for write off certificate.
Since there is no due on our account against the party, Shall we issue write off certificate duly certified by CA ?
If not than what remedies to deal with bank ?
Please consider the matter as urgent and expect immediate response
RAMESH KUMAR VERMA
(Expert)
01 June 2012
bankers intention is right .
regards,
regards,
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