Answered step by step
Verified Expert Solution
Question
1 Approved Answer
5 A American exporter receives a L/C from one of his Japanese importers for the shipment of 600 one Pail of grape Seed oil for
5 A American exporter receives a L/C from one of his Japanese importers for the shipment of 600 one Pail of grape Seed oil for the total amount of USD 60,000.If the LIC prohibits partial shipments, and the exporter ships 600 Pails and draws under the L/C for USD 58,000. Considering the UCP600 rules determine which of the following will be applied. The shipment is in compliance with the L/C and the bank will pay, Article 30c. The shipment is not in compliance with the L/C and the bank will not pay, Article 30c The shipment is not in compliance with the L/C and the bank will not pay, Article 30b The shipment is in compliance with the L/C and the bank will pay, Article 30b
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started