Dear Sirs,
I am the applicant of letter of credit I face some technical problems and the vendor/ beneficiary don't fulfill the project as we agreed.
so we are going to cancel the Lc as soon as possible to make the beneficiary not be able to draw the first payment of LC which indicated in LC On 25th NOV,2018.
so please could us as an applicant instruct our bank to cancel the LC with out beneficiary accepting ?
I am waiting your reply soon
regards,,
Cancel Letter of credit by applicant.
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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
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picant
- Posts: 2026
- Joined: Wed Aug 20, 2008 1:49 pm
Re: Cancel Letter of credit by applicant.
Hi Pal,
cancel l/c is similar to an amendment, it must be accepted by the issuing bank, the eventual confirming
bank and naturally the beneficiary.
Good luck.
Ciao
cancel l/c is similar to an amendment, it must be accepted by the issuing bank, the eventual confirming
bank and naturally the beneficiary.
Good luck.
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: Cancel Letter of credit by applicant.
Dear Ciao
thank u a lot for your clarification I am so glad to be here with Master of LC
Regards,,
thank u a lot for your clarification I am so glad to be here with Master of LC
Regards,,