Types of Payments/Activities
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Unit 4.6-Types of Payments |
Introduction | Types | Negotiation | Summary | Resources | Activities | Assessment |
Activity[edit | edit source]
You are the exporter and have just shipped an order with a letter of credit. Using the following scenarios, determine when you will receive your funds and which bank will send them to you:
Scenario A[edit | edit source]
Invoice Date: January 15, 2007
Shipping Date: January 22, 2007
Type of LC: 60 Days after Invoice Date
Scenario B[edit | edit source]
Invoice Date: January 15, 2007
Shipping Date: January 22, 2007
Type of LC: 60 Days after Transport Date
Scenario C[edit | edit source]
Invoice Date: February 12, 2007
Shipping Date: February 12, 2007
Type of LC: at Sight
Scenario D[edit | edit source]
Invoice Date: March 19, 2007
Shipping Date: March 24, 2007
Type of LC: 90 days after negotiation by the Confirming Bank
Scenario E[edit | edit source]
Invoice Date: March 19, 2007
Shipping Date: March 24, 2007
Type of LC: 90 days after negotiation by the Issuing Bank