7. Decide if each of the following set of information constitutes a compliant presentation or not:...
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7. Decide if each of the following set of information constitutes a compliant presentation or not: (clarify the reasons) (0.5/ each) a. L/C amount: approximately 500.000 USD. Draft value: 500.000 USD. Invoice amount: 540.000 USD. Insurance coverage: 550.000 USD b. L/C states the latest date for shipment on or about 27 Sep 2021. The bill of lading shows the following dates: "Received for shipment: 01 Oct 2021". "Shipped on board: 04 October 2021", and "Bill of lading date: 06 October 2021". c. The bill of lading shows the following dates: "Received for shipment: 28 September 2021", "Shipped on board: 01 October 2021", and "Bill of lading date: 03 October 2021". Insurance is issued on 02 October 2021. L/C expires on 30 October 2021. First presentation is made on 24 October 2021. d. L/C states the product quantity of 1 000 tones. The packing list shows total weight of 1 070 tones. The invoice shows the same number as the packing list. e. L/C states the quantity of product is 500 packages. The packing list shows the total 490 container boxes with total weight of 1 000 tones. The invoice shows the same numbers as the packing list. f. L/C value is 100 000 USD (product quantity unspecified). The invoice shows 98 000 USD. The insurance coverage value is 120 000 USD. g. L/C asks for Clean Bill of lading. In the presentation, the exporter submit a B/L denotes "packaging may not be appropriate for sea transport". 7. Decide if each of the following set of information constitutes a compliant presentation or not: (clarify the reasons) (0.5/ each) a. L/C amount: approximately 500.000 USD. Draft value: 500.000 USD. Invoice amount: 540.000 USD. Insurance coverage: 550.000 USD b. L/C states the latest date for shipment on or about 27 Sep 2021. The bill of lading shows the following dates: "Received for shipment: 01 Oct 2021". "Shipped on board: 04 October 2021", and "Bill of lading date: 06 October 2021". c. The bill of lading shows the following dates: "Received for shipment: 28 September 2021", "Shipped on board: 01 October 2021", and "Bill of lading date: 03 October 2021". Insurance is issued on 02 October 2021. L/C expires on 30 October 2021. First presentation is made on 24 October 2021. d. L/C states the product quantity of 1 000 tones. The packing list shows total weight of 1 070 tones. The invoice shows the same number as the packing list. e. L/C states the quantity of product is 500 packages. The packing list shows the total 490 container boxes with total weight of 1 000 tones. The invoice shows the same numbers as the packing list. f. L/C value is 100 000 USD (product quantity unspecified). The invoice shows 98 000 USD. The insurance coverage value is 120 000 USD. g. L/C asks for Clean Bill of lading. In the presentation, the exporter submit a B/L denotes "packaging may not be appropriate for sea transport".
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a This is a compliant presentation because the LC amount draft value and invoice amount are all with... View the full answer
Related Book For
Cost Management Accounting and Control
ISBN: 978-0324559675
6th Edition
Authors: Don R. Hansen, Maryanne M. Mowen, Liming Guan
Posted Date:
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