Mixed Payment LC - Documentation

[shabbirturra]

Hi,
We have received an LC from our customer where the documentation required is Commercial Invoice countersigned by applicant. Payment terms are as follows: 50% of the invoice value is payable 60 days from the invoice date and balance 50% is payable 120 days from the invoice date.
We will be doing a single shipment for the entire LC amount.
My question is, 1)do we have to prepare a single invoice and 2 drafts for 50% amount each with respective maturity dates or 2) we prepare 2 separate invoice and corresponding drafts for 50% of the amount each.

I am new with the Mixed payment term LC requirements and need your help

Thanks!!!
Shabbir

[Navi]

Hi friend,

For your case, one single invoice together with two drafts wil be enough. No need to issue separate invoices.

Regards

[quang]

I think its depends on the wording in field 46A of LC. My bank often issues LC require 2 separate presentations under 2 separate payments and the second payment requires Ben to present draft and invoice. If LC requires 1 presentation for 2 separate payments, i think there is no need to issue separate invoices