Legal consultation:
My company received a letter of credit from xxx Bank in Bangkok, with a maximum amount of US$900,000 , the certificate stipulates that after negotiation, the claim shall be made by wire transfer to Chase Manhattan Bank in New York, and the documents shall be sent to the issuing bank. The company receives the foreign exchange payment on the third day after the goods are shipped for export. 10 days later, the issuing bank called the negotiating bank and said, "L/C No. BK9045, your bank document BP9038568 does not match, the water content exceeds the standard, the buyer will not redeem the order, please refund." The negotiating bank forwarded the call to the company. Asked what the company should do?
The lawyer replied:
First check the moisture content of the same goods in our inventory Whether it exceeds the standard, whether there is a commodity inspection certificate when exporting, and how the moisture on the certificate is indicated. Secondly, if there is a commodity inspection certificate in the bank negotiation document at the time of export, and the water content listed on the certificate does not exceed the standard, the issuing bank has no right to refuse payment, and cannot request a refund based on the arrival inspection results of the issuance applicant. However, if there is an error If it is indeed our case, we should ask the customer to redeem the order and receive the goods first, and then discuss appropriate subsidies.
Relevant legal knowledge:
Calculation of discounts:
Original price x (1-discount rate) = discounted selling price = Net price
Original price x discount rate = discount amount
For example, if the export price of a certain commodity is CIF Hong Kong USD 7,500 per ton, with a discount of 2%, it can be written as CIFHONGKONGUSD7500PerM/Tless2%Discount. The calculation formula of its net price and discount amount is:Discount amount=7500x2%=150 (USD/ton)
The net export price of goods is:
7500x(1-2% )=7350(USD/ton)
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