LC expired treated under collection
Posted: Fri Sep 04, 2009 10:40 am
Experts,
often the exporter make shipment of goods under expired letter of credit and the issuing bank send a message that they are treating the presentation under URC. in that case should the bank send a new instruction set to the issuing bank about how the document is to be handled? if the shipment is one by air, then how the exporter right will be protected.
often the exporter make shipment of goods under expired letter of credit and the issuing bank send a message that they are treating the presentation under URC. in that case should the bank send a new instruction set to the issuing bank about how the document is to be handled? if the shipment is one by air, then how the exporter right will be protected.