Listening...

Loading...
Voice search animation
Close voice search

Circulars

IMPORT LC –PORT OF DISCHARGE

April 29, 2004
43793

The Head/Principal Offices of all
Authorized Dealers in Foreign Exchange

Dear Sirs,
IMPORT LC –PORT OF DISCHARGE
Attention of Authorized Dealers is invited to Para 10, Chapter XIII of the FEM, 8th Edition, 2002 which contains terms, on which Letter of Credits may be opened.
2. It is advised that while opening import Letter of Credits, port of discharge should be specified as either Keamari, Karachi or Port Qasim, Karachi under importer’s specific instructions. The mention of “any port in Pakistan” or “Karachi” as the port of discharge should be avoided unless specifically required in the underlying contract giving option to the foreign exporter in respect of the port of discharge.
3. Authorized Dealers are advised to bring the above to the notice of their constituents.

Yours sincerely,

Azhar Kureshi
Director