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funding LC 100% for Logistic cash

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Mon, 07/05/2010 - 08:16
Pak Sofin Sinaga
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Joined: 07/05/2010
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Dear my friend

 I am exporter from Indonesia

I want to export yellow maize

my buyer from france

but I have 2 problem

1. buyer ask PB 2%

2. our logistic cash about 70%

we have no cash anymore after plant and crop 

 my buyer said according to UCPDC 600 , LC is cashable in the front.

 in the front, it mean: we (exporter) get supporting cash for our logistic from Bank (advising bank) even we do not deliver the goods yet..but bank keep the rest 30% after document complete

is that right?

can we get the cashable for 70% for logistic based guarante of LC open?

anybody can help me?

 

regard

Pak Sofin SInaga

Indonesia

skype:sby010306 

 mobile" 081284445650 

 

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Mon, 07/05/2010 - 16:22
#1
REPLYTORAVI
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Joined: 04/11/2010
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I think u r referring to Red Clause LC

To allow the exporter/manufacture,LC can allow some portion to be given for PC .This is called as Red clause LC

 

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