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murteza
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by murteza » Tue May 19, 2009 11:27 pm
My Helloto All Experts.
Your comments are invited for the following question:-
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Do the tolerence i.e 10/10 in L/c Field 39a, will be automatically applicable to the qty specified under Field 45A of the L/C Description of good and or services. Let us suppose
The qty is 1000 MT of Raw Sugar.
L/c amount is USD.100,000/-
D/terms are CFR.
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Can a Benefy draw upto USD.110,000/- without increase in QTY.
Would appreciate your comments.
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Best regards
S.Murteza
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ldt5205
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by ldt5205 » Wed May 20, 2009 9:41 am
This field specifies the tolerance relative to the documentary credit amount as a percentage plus and/or minus that amount.
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cristiand969
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by cristiand969 » Wed May 20, 2009 1:36 pm
The tolerance in amount does not automatically convey the meaning that such tolerance would be applicable for the quantity. Please note that even if you have Metric Tones (no pieces, boxes) in description of goods you cannot take advantage of the tolerance of 5 pct either because of the contents of art. 30 c - last sentence.
So, better ask for an amendment!