HI EXPERT
I OPENED LETTER OF CREDIT IN FAVOUR OF THE BENEFICIARY AS FOLLOWS:
•COUNTRY OF AN APPLICANT: LIBYA
•COUNTRY OF BENEFICIARY: GERMANY
•DELIVERY TERM: DAP BREMEN
•FILED 60 SHOWS FULL CONTACT DETAILS OF GERMAN CARRIER THAT NOMINATED BY ME AS AN APPLICANT
•PORT OF LOADING: BREMEN PORT
•DISCHARG PORT: BENGHAZI PORT, LIBYA
•FILED 45: REQUESTED GOODS AT DAP BREMEN
MY QUESTION IS " IS FILED NO.45 CORRECT REGARDING DELIVERY TERM ? OR NOT BECAUSE OPENING BANK ASK ME TO AMEND IT TO READ AS : REQUESTED GOODS AT DAP BENGHAZI PORT INSTEAD OF BREMEN PORT AND THE BANK TOLD ME THE DAP TERM FOR DIRECT SHIPPING FROM SELLER TO BUYER WITHOUT BROKER . BUT I DISAGREE WITH THE BANK BECAUSE I THINK I CAN USE DAP TERM FOR INDIRECT SHIPPING THROUGH OUR NOMINATED FRIGHT AGENCY.
PLEASE EXPERTS CHICK AND REVERT ASAP
LC UNDER DAP
- SANUSILAMIN
- Posts: 43
- Joined: Mon Sep 11, 2017 2:47 pm
- First Name: ALSUNOUSI
- Last Name: LAMEEN
- Organization: NOC, LIBYA
- Filter: Two Plus Two =: 4
- Location: LIBYA
- picant
- Posts: 2026
- Joined: Wed Aug 20, 2008 1:49 pm
Re: LC UNDER DAP
Hi Pal,
DAP, Delivered at place, usually at destination, in your case is a sort EXW.
Naturally the price should be adeguate as the seller has to arrange and pay freight etc.,
The fact that applicant indicated the carrier, IMHO, it means that the latter has to pay the freight,
so I think that the opening bank is correct.
However Incoterm 2020 must be added to DAP, otherwise it is impossible to know liabilities of the parties.
Ciao
DAP, Delivered at place, usually at destination, in your case is a sort EXW.
Naturally the price should be adeguate as the seller has to arrange and pay freight etc.,
The fact that applicant indicated the carrier, IMHO, it means that the latter has to pay the freight,
so I think that the opening bank is correct.
However Incoterm 2020 must be added to DAP, otherwise it is impossible to know liabilities of the parties.
Ciao
- SANUSILAMIN
- Posts: 43
- Joined: Mon Sep 11, 2017 2:47 pm
- First Name: ALSUNOUSI
- Last Name: LAMEEN
- Organization: NOC, LIBYA
- Filter: Two Plus Two =: 4
- Location: LIBYA
Re: LC UNDER DAP
thank so much Mr.Ciao I have followed this forum because of you I consider you my LC master
thank you again for your kind reply
Regards,
sanusi
thank you again for your kind reply
Regards,
sanusi