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Margins in LC
- maddysanoo
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10 years 7 months ago #16629
by maddysanoo
Margins in LC was created by maddysanoo
Hello everyone,
I was wondering if anyone of you can help us in one of the scenarios we are encountering right now. In LC, normally margins are taken after the issuance of LC. However, for this one specific client, margins are taken before issuance of Import LCs. The client wants to debit the customers account and credit an ‘Import Routing Account’. And on issuance of the LC we debit the import routing account and credit the customer margin account”.
How I see it getting done is to debit the customer account and credit the internal account (i.e. Internal Routing Account) at the time of Pre Advice of Import LCs.
What do you guys think? Let me know your thoughts.
I was wondering if anyone of you can help us in one of the scenarios we are encountering right now. In LC, normally margins are taken after the issuance of LC. However, for this one specific client, margins are taken before issuance of Import LCs. The client wants to debit the customers account and credit an ‘Import Routing Account’. And on issuance of the LC we debit the import routing account and credit the customer margin account”.
How I see it getting done is to debit the customer account and credit the internal account (i.e. Internal Routing Account) at the time of Pre Advice of Import LCs.
What do you guys think? Let me know your thoughts.
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- maddysanoo
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10 years 7 months ago #16631
by maddysanoo
Replied by maddysanoo on topic Margins in LC
Anyone? Really need expert opinion people. Eagerly awaiting for reply.
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