Manikandan Narayanan
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Articles
Recent activity by Manikandan Narayanan-
Receiving Documents from First Beneficiary in Transfer L/C
The First Beneficiary has the right to substitute his own invoice(s) and Draft(s)) for those of theSecond Beneficiary, for amounts not in excess of the original amount stipulated in the Credit andf...
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Receiving Documents from Second Beneficiary in Transferred L/C
A 'Transferred credit' means a credit that has been made available by the transferring bank to a second beneficiary. Transferring bank means a nominated bank that transfers the credit or, in a cr...
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Opening a Transfer L/C
Transferable credit means a credit that specifically states it is 'transferable'. A transferable credit may be made available in whole or in part to another beneficiary ('second beneficiary') at th...
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Transferable L/C
The Letter of credit( LC ) can be transferable or non-transferable. In case of transferable credit, the word ‘transferable’ is mentioned on the LC. However, in the absence of such an indication, th...
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Pre-Opening an Import Collection
Import Collections are documentary collections received from another bank (normally from abroad) and are usually intended for the customer of the bank (the drawee), which is the payee of the collec...
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Documentary Collection
What is Documentary Collection? Documentary Collection (D/C) is a payment method in international trade. Documentary collection is a process that allows a seller to give their bank instructions to ...
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Re-Opening a closed Export L/C
There is a Possibility to reactivate a previously closed Export L/C contract in the System in order to process other transactions. The closing date of the contract is deleted after reactivating the...
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Closing Export L/C
The Created Export L/C contract can be closed at any time for several reasons. For closing L/C, there should not be any open liabilities from unpaid sets of documents or any open subcontracts inc...
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Forward/Sending Documents under Export L/C
Export L/C mainly provides services, such as L/C advice, cancellation, transfer, documents examination, sending documents for reimbursement, and collection of payment. The Exporter's Bank provide...
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Reimbursement Claim in Export L/C
In the Letter of Credit arrangements, the reimbursing bank is the bank that serves as a source of funds payment to the beneficiary. Upon presentation of credit conforming documents nominated bank w...