Page 1 of 1

Mixed Payment Documentary Collection & Agent's Commission

Posted: Fri Mar 21, 2014 5:25 pm
by dkiruy
Docs under collection received.2% commission to be paid to agent.Bill is payable 50%sight and 50% usance at 90 days BL date.How should the bank pay the agent:
+2% of the sight payment ...

Clear instructions

Posted: Sat Mar 22, 2014 1:52 pm
by picant
Hi Pal,

IMHO, the remitting bank must give clear instructions; agent's commission could be paid on first partial payment or pro rata depending if the agent is responsible for the payment too, so called "Del credere".
Other comments appreciated
Ciao