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trang2708

trang2708

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17/10/19
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We received an UPPAS LC as follows:
Issuing bank: KB Korea
L/C amount: USD 33,581.35
Date and expiry: 151014 at negotiating bank
L/C available with any bank by negotiation
Drafts at 120 days after nego date

Reimbursing bank: KB Ho Chi Minh City ( SWIFT CODE:…….)
47A : Additional Conditions
T/T reimbursing is not allowed. When you claim reimbursement for accepting bank, you should mark nego date on your claim letter or claim message.
78 : Paying/Accepting /Negotiating Bank
The credict must be negotiated at sight basic. If the presented export documents complied with all terms and conditions of the L/C. Negotiating Bank may claim reimbursement from the reimbursing bank. We are acting as the presenting bank only by forwarding drafts to reimbursing bank and the documents (except drafts) to the issuing bank. So how should the tenor of the drafts be written as the nego date not available? Whether the requirement of making nego date on claim letter not fulfilled cause the delay in reimbursement or not in case the L/C is not amended.
 
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