Manikandan Narayanan
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Articles
Recent activity by Manikandan Narayanan-
Reserving an Export L/C?
When the exporter is awaiting for the Original LC that is not advised and also need to know that their Bank is willing to confirm the LC at the time of advising the Credit. The Banks will Reserve t...
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Transferring the Liability Party in Import L/C
The 'Transfer of the Liability party' means the obligation is transferred from one party to another party. The Liability is completely moved to the entered new party(Applicant) and the old party(Ap...
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Advising Documents in Import L/C?
There is a possibility for the banks to receive the electronic swift message first before receiving the actual physical documents for presentation. In that case, the following types of advices are ...
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Amending a Import Letter of Credit
'Amending' is to make any kind of change to an Import L/C that do not require the consent of the beneficiary. These changes may include amount or validity changes, or changes to other terms and con...
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Internal Amendments in Import L/C
The 'Internal Amendment' refers to the modifications carried out in the transaction details without impacting the terms and conditions of the Import L/C contract. Application allows various types...
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Request of Amendment in Import L/C
The 'Request of Amendment' refers to the Import L/C Amendment request with detrimental changes(such as amount, Expiry & Liability date, Beneficiary and delivery details) that are made to the terms ...
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Assignment of Proceeds in Import L/C
The 'Assignment of Proceeds' means when a beneficiary of an import L/C transfers/assigns all or part of his proceeds (Amount) from the Import L/C to a third-party beneficiary at any time during the...
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Receiving Documents under Import L/C - LITDCK
A Letter of Credit is an undertaking by the bank issuing it to pay the beneficiary of the credit provided stipulated documents are presented and other terms and conditions of the LC are complied wi...
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Release of Goods under Import L/C
The imported goods are under the control of mainly three parties; The customs department of importing country, the carrier of goods and the custodian of cargo. The imported goods at customs bonded ...
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Commissioning under a Import L/C
The Commission plays a vital role for every transactions. The banks will receive the commission for their service provided on each of the transactions. This commissions are calculated and settled f...