Hi Expert,
Glad to be here.
I am a mandate of Seller (Gloves MArket), Buyer will open L/C name of Seller name. Can I endorse my commission in L/C? When buyer release funds for seller, they will also release our endorsement fund as well. I do not want to kick back money from seller account. Is there any solutions for that?
Please advice me.
Thanking you guys
Shameem
Endorse commission in L/C
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shameemju
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picant
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Re: Endorse commission in L/C
Hi Pal
IMHO it is possible to ask for a payment order addressed to issuing bank to pay out of l/c proceeds a certain amount
as trade cosmmissions.
In some Countries it is possible to ask for a negotiating bank declaration that they undertake to pay locally
a certain amount to intermediary/broker/agent etc.
Naturally it is the local law allowing or prohibiting such clause.
Other comments appreciated
Ciao
IMHO it is possible to ask for a payment order addressed to issuing bank to pay out of l/c proceeds a certain amount
as trade cosmmissions.
In some Countries it is possible to ask for a negotiating bank declaration that they undertake to pay locally
a certain amount to intermediary/broker/agent etc.
Naturally it is the local law allowing or prohibiting such clause.
Other comments appreciated
Ciao
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MeName23
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