Can ISB give a PI in case of confirmed LC?

dulari · Post by **dulari** » Sun Mar 14, 2010 1:45 pm

Dear cdcs please clarify the follwoing question broadically

Can ISB give a PI in case of confirmed LC?

Dulari

Jackie · Post by **Jackie** » Wed Mar 17, 2010 10:03 pm

Dear dulari

Please can you advise what you mean by PI in this case in order that I may respond?

thank you Jackie

VASU · Post by **VASU** » Sat Mar 20, 2010 10:56 pm

I suppose, PI stands for Payment Instyructions and my response goes with that assumption.
ISB can mention specific payment instruction to Neg/Adv bank to pay specific amount as an advance which may be needed for BEN as pre-shipment advance. This is referred as Red/Green Clause LCs which may require respective supporting docs.