Extension of Due Date for payment
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M.A.Chowdhury
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Extension of Due Date for payment
Can a due date for payment be extended?
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Navi
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If all parties agree, Yes...
Dear friend,
If all parties agree on the isssue, there is no problem in my opinion. In case of a time draft, it is better to issue a new draft and present for acceptance on the drawee party to extend due date. However, a authenticated swift confirmation will be enough if the Lc is a deferred payment LC..
.
Regards
If all parties agree on the isssue, there is no problem in my opinion. In case of a time draft, it is better to issue a new draft and present for acceptance on the drawee party to extend due date. However, a authenticated swift confirmation will be enough if the Lc is a deferred payment LC..
.
Regards
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ajoy
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well said
and the parties are :
The one making payment
The one reciving the payment.
In case there is financing/discounting involved the party providing the finance needs to get involved too otherwise the extention is meaningless from the ppoint of view the party making teh payment.
Cheers
Ajoy
The one making payment
The one reciving the payment.
In case there is financing/discounting involved the party providing the finance needs to get involved too otherwise the extention is meaningless from the ppoint of view the party making teh payment.
Cheers
Ajoy