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Can ISB give a PI in case of confirmed LC?
Posted: Sun Mar 14, 2010 1:45 pm
by dulari
Dear cdcs please clarify the follwoing question broadically
Can ISB give a PI in case of confirmed LC?
Dulari
Can ISB give a PI in case of confirmed LC?
Posted: Wed Mar 17, 2010 10:03 pm
by Jackie
Dear dulari
Please can you advise what you mean by PI in this case in order that I may respond?
thank you Jackie
Can give...
Posted: Sat Mar 20, 2010 10:56 pm
by VASU
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.