Bangladesh DC with 5% deduction
Posted: Sun Dec 02, 2018 7:57 am
Dear Expert
As per Bangladesh local regulation
What I know is a export bill cannot exceed 5% of the bill value.
If a DC call for Invoice which has already included a 3% rebate deduction from the invoice value.
Would anyone tell me if DC issuing can add below clause to the DC so applicant can adjust the claim amount upon payment effected.
"Payment under this credit may be subject to a deduction up to 5 pcs of invoice presenting outstanding claim owing by the beneficiary to the applicant in respect of the shipment made. Deduction will be made without obtaining the prior approval from the nominated bank/beneficiary even if complant documents are presented."
Waiting your valuable comments.
Thanks
Kei
As per Bangladesh local regulation
What I know is a export bill cannot exceed 5% of the bill value.
If a DC call for Invoice which has already included a 3% rebate deduction from the invoice value.
Would anyone tell me if DC issuing can add below clause to the DC so applicant can adjust the claim amount upon payment effected.
"Payment under this credit may be subject to a deduction up to 5 pcs of invoice presenting outstanding claim owing by the beneficiary to the applicant in respect of the shipment made. Deduction will be made without obtaining the prior approval from the nominated bank/beneficiary even if complant documents are presented."
Waiting your valuable comments.
Thanks
Kei