What Is The Meaning Of 'CREDIT ISSUING OFFICE" "BY PAYMENT" In Letter Of Credit Clause 41D?

The forum is dedicated to all who deals with LCs. Please share your experiences, problems and opinions with us. You are requested to be confined to LC related issues only. Let us together discover the beauty of Letter of Credit. Thank and regards – admin; besttradesolution.com
Post Reply
vil
Posts: 1
Joined: Fri Aug 11, 2017 8:34 pm
First Name: villie
Last Name: sheth
Organization: jpi
Filter: Two Plus Two =: 4
Location: NY

What Is The Meaning Of 'CREDIT ISSUING OFFICE" "BY PAYMENT" In Letter Of Credit Clause 41D?

Post by vil » Fri Aug 11, 2017 8:44 pm

Hi all, Please help...

What is the meaning of 'CREDIT ISSUING OFFICE" "BY PAYMENT" in Letter of credit clause 41D?

Who should we present the documents?

What is the responsibility of issuing bank? Can they refuse payment?
Top
User avatar
picant
Posts: 2026
Joined: Wed Aug 20, 2008 1:49 pm

Ehm......

Post by picant » Sat Aug 12, 2017 2:38 am

Hi Pal,

credit is only payable by the issuing bank to whom documents must be presented.
Check field 31 D for date and place for presentation, in this case should state
issuing bank too.
Let us know. Thanks and ciao
Top
Post Reply

Return to “Letter of Credit Forum”