tolerance in letter of credit
Posted: Wed May 26, 2010 10:45 pm
we received a LC which has the following description of goods
1. Goods xxxxxx, Price USD 1000 per unit, Unit 10 Pcs
2. Goods zzzzzzz, Price USD 500 per unit. Unit 10 Pcs
LC value 15000
in 46a, the LC has a tolerance of 5% on price. my question is, does that 5% falls on price as well? if no, can we increase the price of goods xxxx by 5% (that is USD 1050) and ship 10 pcs for 10500 and ship 9 Pcs of goods zzzzz? in that way we will be within the LC value? please note partial shipment is allowed
1. Goods xxxxxx, Price USD 1000 per unit, Unit 10 Pcs
2. Goods zzzzzzz, Price USD 500 per unit. Unit 10 Pcs
LC value 15000
in 46a, the LC has a tolerance of 5% on price. my question is, does that 5% falls on price as well? if no, can we increase the price of goods xxxx by 5% (that is USD 1050) and ship 10 pcs for 10500 and ship 9 Pcs of goods zzzzz? in that way we will be within the LC value? please note partial shipment is allowed