The Price of Letters of Credit
All the charges for issuance of Letter of Credit, negotiation of documents, reimbursements and other charges like courier are to the account of applicant or as per the terms and conditions of the Letter of credit. If the letter of credit is silent on charges, then they are to the account of the Applicant. The description of charges and who would be bearing them would be indicated in the field 71B in the Letter of Credit.
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Famous quotes containing the words price, letters and/or credit:
“A work of art that contains theories is like an object on which the price tag has been left.”
—Marcel Proust (1871–1922)
“It is hard to believe that England is so near as from your letters it appears; and that this identical piece of paper has lately come all the way from there hither, begrimed with the English dust which made you hesitate to use it; from England, which is only historical fairyland to me, to America, which I have put my spade into, and about which there is no doubt.”
—Henry David Thoreau (1817–1862)
“The thief steals from himself. The swindler swindles himself. For the real price is knowledge and virtue, whereof wealth and credit are signs. These signs, like paper money, may be counterfeited or stolen, but that which they represent, namely, knowledge and virtue, cannot be counterfeited or stolen.”
—Ralph Waldo Emerson (1803–1882)