Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

February 1, 2016 and the directors were very happy to learn that their k National Bank at 37 Windflower Road Brampton L7A 4P5 had roved

image text in transcribed
February 1, 2016 and the directors were very happy to learn that their k National Bank at 37 Windflower Road Brampton L7A 4P5 had roved their trade finance loan of $48,000. On the same day the Garcias ckly placed their so needed order to their new supplier Raquel Jimenez Casa #508, Lomas Del Sol, Curridabat, San Jose, Costa Rica, 11801. mally Michael would use the recommended shipping company ZIM70 at Northridge Rd., Suite 130, Atlanta, Ga 30350-3352 U.S.A. but he just nd a new company, Canada Steamship Lines at 759 Square Victoria, ntreal, Quebec Canada H2Y 2K3 phone number 514 982-3801which ranteed him a quicker delivery time. A week later his suppliers called to ise that the goods were ready for shipment; the ship is expected to be at for two weeks and the freight would be paid in Toronto on arrival of the . His bank manager Bibi Hussain quickly prepared the Letter of Credit February 2, 2016 to Raquel Jimenez bank - National Commercial Bank of ta Rica at Casa #101, Lomas Del Sol, Curridabat, San Jose, Costa a,11801. The letter expires in thirty days with stipulation that payment be made upon receipt of a valid Bill of Lading. soon as the goods were shipped Rita Comps couriered the Bill of Lading C12wrDf to the bank for immediate payment of Letter of Credit # 2016

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Inflation, Unemployment And Capital Malformations

Authors: Bernard Schmitt, Xavier Bradley, Alvaro Cencini

1st Edition

0429767064, 9780429767067

More Books

Students also viewed these Economics questions