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Our client has issued the LC in our favour. At the time of negotiating of LC, the negotiating Bank has sent the Bill of Exchange to the applicant.
I want to know, if the Bank has already established the LC is it require to accept the Bill of Exchange from the applicant while terms & conditions are compliance with LC terms.
Free Member, Joined :09/13/2006
No of Topics Posted : 3
Reply/Comments : 4
yes, it is mandatory for applicant to accept the Bill of Exchange.
International Papers FZE
Sharjah, United Arab Emirates
Free Member, Joined :12/03/2005
No of Topics Posted : 0
Reply/Comments : 3
Thank you very much sir, for contributing your valuable reply,
Free Member, Joined :09/13/2006
No of Topics Posted : 3
Reply/Comments : 4
Sir, I wanted to know if I can borrow L/C, B/G, SBLC for my deals. I need your kind advice.
Free Member, Joined :02/06/2002
No of Topics Posted : 1
Reply/Comments : 2
you can borrow the L/C, BG, SBLC from your bankers only subject to the terms and conditions implied of your bankers. The letter of credit, BG establish bankers only as per the request of the applicant.
Free Member, Joined :09/13/2006
No of Topics Posted : 3
Reply/Comments : 4
thank you sir.
Free Member, Joined :02/06/2002
No of Topics Posted : 1
Reply/Comments : 2
Dear sir, I am confusion about the flow of B/E. As i know that B/E is issued by beneficiary and present to negotiating bank.But at that time the L/C had already became effective and the goods has been shipped out. How do you still want to check the establishment of L/C?
Many thanks for kind advice!
Dingxiang Beicheng Flange Co., Ltd.
Kunshan, China
Free Member, Joined :06/06/2006
No of Topics Posted : 1
Reply/Comments : 3
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