Article 18b - invoice in excess of LC amount
Posted: Fri Sep 16, 2011 1:00 am
Thanks Jeremy. I can see your point. But if it is an acceptance credit, going by your argument one would be expecting the drawee bank to accept a draft for $100 whereas the payment due is actually $98. To eliminate the confusion, the credit should just ask for a draft without mentioning that it should be drawn for 100% of the invoice value.
Regards, Gabriel
Regards, Gabriel