Is This Credit Usance Credit Payable At Sight?
Posted: Mon Nov 10, 2008 7:59 am
LC states：
41D：CREDIT ISSUING OFFICE AT 90 DAYS SIGHT BY DEF PAYMENT
42C：90 DAYS SIGHT FOR INVOICE VALUE OF GOODS
47A：THIS CREDIT IS PAYABLE AT SIGHT AND INVOICE MUST EVIDENCE THE SAME.
The credit didn't stipulate whose party will bear the discounting fee or interest .
My question is whether it is a real usance credit payable at sight?
If not, why did the issuing bank make such contradictory clauses?
How will the beneficiary and forwarding bank do? (There is no time contacting the issuing bank for clarification)
Pls comment. Tks.
Ofei
41D：CREDIT ISSUING OFFICE AT 90 DAYS SIGHT BY DEF PAYMENT
42C：90 DAYS SIGHT FOR INVOICE VALUE OF GOODS
47A：THIS CREDIT IS PAYABLE AT SIGHT AND INVOICE MUST EVIDENCE THE SAME.
The credit didn't stipulate whose party will bear the discounting fee or interest .
My question is whether it is a real usance credit payable at sight?
If not, why did the issuing bank make such contradictory clauses?
How will the beneficiary and forwarding bank do? (There is no time contacting the issuing bank for clarification)
Pls comment. Tks.
Ofei