Dear members
Will you issue a letter of credit exw without a transport document required I. The LC ? Your valuable comments appreciated it
Will You Issue LC EXW Without A Transport Document?
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TradeLaporte
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- First Name: ART
- Last Name: TRATADOLIBRE
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picant
- Posts: 2026
- Joined: Wed Aug 20, 2008 1:49 pm
Yes, but....
Hi Pal,
EXW represents more domestic than export sales. A bank , having correct guarantee, may issue l/c without requiring transport document, i.e. delivery note . Problems for exporters depends on the laws relating to fiscal, custums etc.
In Italy the goods sold without VAT, must be exported within 90 days, otherwise exporters have to pay this VAT. Than
the goods could be taken up by a lorry driver and.....pass the Customs at polish/russian borders...
Even if goods pass an internal Customs , the export formalities will be booked to the italian exporter, identified by fiscal code.... So, at the end, EXW is more suitable for domestic/internal transactions.
Other comments appreciated
Ciao
EXW represents more domestic than export sales. A bank , having correct guarantee, may issue l/c without requiring transport document, i.e. delivery note . Problems for exporters depends on the laws relating to fiscal, custums etc.
In Italy the goods sold without VAT, must be exported within 90 days, otherwise exporters have to pay this VAT. Than
the goods could be taken up by a lorry driver and.....pass the Customs at polish/russian borders...
Even if goods pass an internal Customs , the export formalities will be booked to the italian exporter, identified by fiscal code.... So, at the end, EXW is more suitable for domestic/internal transactions.
Other comments appreciated
Ciao