Dear all
Have u ever received one lot of docs under L/C but not present bill of exchange,
In my opinion, B/E is used to banks claim each other.
If not present, our bank (bank of applicant) can payment to bank of beneficiary normally???
Hope to receice your answers asap
Thanks and best regard!
bill of exchange
-
picant
- Posts: 2026
- Joined: Wed Aug 20, 2008 1:49 pm
bill of exchange
Hi Pals,
bill of exchange is tipical in trade relationships between Commom Law Countries. Bill means many things: paper document stating that..... In Italy Bill ..... means stamps, duties etc, and we tried to avoid it when it is possible. In case of documentary credit, many documents could be considered "Bill", first of all the remittance letter accompanying documents, in which the bank on behalf of the beneficiary ask money to the issuing bank. So if you have to pay documents in availment of l/c, please pay attention to the instructions in the remittance cover.......
Ciao
bill of exchange is tipical in trade relationships between Commom Law Countries. Bill means many things: paper document stating that..... In Italy Bill ..... means stamps, duties etc, and we tried to avoid it when it is possible. In case of documentary credit, many documents could be considered "Bill", first of all the remittance letter accompanying documents, in which the bank on behalf of the beneficiary ask money to the issuing bank. So if you have to pay documents in availment of l/c, please pay attention to the instructions in the remittance cover.......
Ciao