available With XYZ by payment

dua · Post by **dua** » Fri Dec 11, 2009 1:32 pm

Dear all,
pls answer me the question, we received the L/c with 41A: available with XYZ by payment
and 47A: additional condition stipulated that : do not send any draft if not requested
what does this mean? maybe we don't need send draft (bill of exchange) to claim rebursement
only docs with cover letter done by ourbank without undertaking situation of docs
pls reply a.s.ap
thanks so much

LCstudent · Post by **LCstudent** » Fri Dec 11, 2009 1:45 pm

Dear Dua ! Liquidaton of L/C amount demands in Your case simply to dispatch all documents under 46A WITHOUT a draft through Your bankers to the bank XYZ, as they obviously do not need a separate draft, but consider the restriction under 47A: if not requested. So please take a further look into the L/C checking the fields 42C (concerning drafts at...) and 42A (conc. drawee). if there are NO further details given, act as described above. Other views appreciated. Have a great day. Rgds LCStudent.

dua · Post by **dua** » Fri Dec 11, 2009 1:56 pm

thanks LCstudent
actually, in this L/C without field 42
So that we don't need present drafts? as L/C stipulated

LCstudent · Post by **LCstudent** » Fri Dec 11, 2009 3:06 pm

Dear Dua ! Fine to read Your lines. Yes, do not create drafts, only present the docs under 46A (but consider: sometimes additional documents can be required under 47A such as Lloyds certificates of registration or ship age certificates for example) to Your banker..and all seems to be ok. Have a nice day. Rgds LCStudent.

babar · Post by **babar** » Fri Dec 11, 2009 6:23 pm

Dear Dua,
A draft is not normally required in a "by payment l/c" or a "deferred payment l/c". So in
ur case it is quite normal not to ask for a "draft". Your opposite party specially mentioned
not to attach draft with the set of documents,because in some countries "draft" attracts
stamp duties.
regards

babar

21vita · Post by **21vita** » Fri Dec 18, 2009 2:59 pm

Do not send draft,or it will cause chgs...lc issued by italian bank?

sagar1984 · Post by **sagar1984** » Mon Dec 21, 2009 3:02 pm

Check whether LC is wihout clause 42C. In which case there is no need to present draft.