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Seller's option
Posted: Tue May 10, 2016 1:00 am
by asamaha
L/C states the quantity as follows:
'1000 metric tons at seller's option'. Does this mean that the tolerance of 5 percent is not applicable?
Regards
Antoine Samaha
Seller's option
Posted: Wed May 11, 2016 1:00 am
by asamaha
I mean that any quantity up to 10000 MT may be shipped provided of course that the L/C amount is not exceeded.
PS. the L/C does not indicate any unit price
Regards
Antoine Samaha
Seller's option
Posted: Fri May 27, 2016 1:00 am
by JudithAutié
once again the problem arises from a poorly opened credit. Personally I would inform the issuing bank (and the beneficiary) that I am requesting clarification and that the credit is not available until I get a satisfactory reply