I have a dispute between Letter of Credit and Commercial Invoice
Letter of credit disputes are commonplace in the trading arena..
I received below from a reader based in Singapore.. Can someone knowledgeable in this field assist with an answer please ..??
I am a bit novice to trading. Just wondering,
- Is there any problem if the amount of commercial invoice submitted to bank after shipment is less than the amount on LC.
- Bank will accept without any discrepancy?
- After bank accepts invoice, what happen? Bank will keep balance amount for future use of that LC?
- Bank accepts or not is related with partial shipment allow or not allow inside LC?
Lets help out the reader, all constructive comments welcome.. Thanks..
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