Friends,
Is it possible for a credit to contain an expiry in one place (India) and the availability with a bank located in another place (China)?
Jahid
Expiry And Place Of Availability Are Different
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jahid
- Posts: 7
- Joined: Tue Nov 25, 2014 12:05 pm
- First Name: jahidul
- Last Name: shaikh
- Organization: ppubali Bank Ltd
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- Location: Bangladesh
-
picant
- Posts: 2026
- Joined: Wed Aug 20, 2008 1:49 pm
Yes, but
Hi Pal,
We issue many l/c with expiry date in the Country of beneficiary but available by payment at our counters.
This type of contruction allows beneficiary to present documents to a bank, p.e. advising bank within the expiry date, but the risk of losing those it is for the beneficiary. The documents must reach issuing bank to be honoured.
In the past some banks clause the expiry date in beneficiary's Country with this clause "For documents presentation only"
Other comments appreciated.
Ciao
We issue many l/c with expiry date in the Country of beneficiary but available by payment at our counters.
This type of contruction allows beneficiary to present documents to a bank, p.e. advising bank within the expiry date, but the risk of losing those it is for the beneficiary. The documents must reach issuing bank to be honoured.
In the past some banks clause the expiry date in beneficiary's Country with this clause "For documents presentation only"
Other comments appreciated.
Ciao