Dear Sir,
I would request you to provide me the details of UPAS LC. Actually who is eligible for this LC and who is not?
Regards,
Fuyad
UPAS
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cristiand969
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TaiOanlan
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Re: UPAS
At Fuyad,
UPAS LC:
Beneficiary will get paid at sight basis from Negotiation bank. Usance interest ( and other bank charges if any) is on applicant.
Applicant is paying Issuing bank at maturity day.
Case close. This is brief flow from point of view of beneficiary and applicant.
Regards, Luke
UPAS LC:
Beneficiary will get paid at sight basis from Negotiation bank. Usance interest ( and other bank charges if any) is on applicant.
Applicant is paying Issuing bank at maturity day.
Case close. This is brief flow from point of view of beneficiary and applicant.
Regards, Luke
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cristiand969
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Re: UPAS
Dear TaiOanlan
The purpose of the UPAS is that the L/C to be paid as if it was issued on sight basis . Therefore, the primary undertaking to pay at sight rests to issuing bank, not to negotiating bank.
The purpose of the UPAS is that the L/C to be paid as if it was issued on sight basis . Therefore, the primary undertaking to pay at sight rests to issuing bank, not to negotiating bank.
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TaiOanlan
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Re: UPAS
Dear Cristian,
Thank you for the input.
Some more input in relation to my previous post, I tried to lay out from client`s point of view.
The deal is done for seller once they get paid from nego bank at sight basis. Then, the export bill settlement is between nego bank and issuing bank matter.
Regards, Luke
Thank you for the input.
Some more input in relation to my previous post, I tried to lay out from client`s point of view.
The deal is done for seller once they get paid from nego bank at sight basis. Then, the export bill settlement is between nego bank and issuing bank matter.
Regards, Luke