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What is LC DA DP TT payment options?
LC = Payment thru Letter of Credit DA = Payment against acceptance DP = Payment against receipt of document TT = Telegraphic transfer
What does ROG mean in payment terms?
Payment is required on Release Of Goods
What does COD mean in payment terms?
Cash on Delivery
Is the drawee banker require the acceptance of applicant for payment of sight LC?
no
What does the mean of M30 payment terms?
Payable in 30 days
What is the meaning of LC payment?
Letter of Credit payment
What are the payment terms L C or PDC or CDC?
LC - letter of credit PDC - post dated cheque CDC - current dated cheque
What is negotiation of documents under LC under reserve?
The documents presented under a documentary credit are scrutinized as per the International standards of scrutiny and negotiated if they strictly comply with the LC terms. This is called a clean negotiation. On the other hand if the documents do not comply with the LC terms and discrepancies are found, the negotiating bank may still opt to give value under the LC by paying or incurring a deferred payment obligation as per LC provided the beneficiary undertakes to indemnify the negotiating bank in the event of rejection by the LC opening Bank. This is technically called a payment under reserve. The Reserve will be lifted on acceptance of discrepancies by the LC opening Bank.
What is LC DA DP TT payment options?
LC = Payment thru Letter of Credit DA = Payment against acceptance DP = Payment against receipt of document TT = Telegraphic transfer
What are the payment terms of a high seas sale?
Generally it should be an advance, thru cheque or credit for 30 days, normally LC terms should be avoided as its required lot of formality to discount of an lc and in high sea sale these formalities become more critical. Thanks
What is the meaning of lc?
Letter of Credit payment
What is the meaning of Payment will be effected provided the stipulated documents are presented and terms and conditions of the LC are complied with?
It means the bank will release your money after they approve your document presentation and get approval from the applicant of the letter of credit. If all documents are included and comply with the instructions of the LC, payment can be released according to the payment schedule (i.e. "Draft at 30 days after ship date").
What does ROG mean in payment terms?
Payment is required on Release Of Goods
Difference between Export LC and import lc?
An import LC is one made with reference to the buyer but with an export LC, the LC is changed to that with reference to the Issuing bank. This gives a stronger guarantee of payment to the seller.
What does LC mean?
lc = learning centre
What does COD mean in payment terms?
Cash on Delivery
WHEN IS LC REQUIRED?
What do you mean by the term LC and when it is used
