An L/C text mentions under field 39 C the following:
Deffered payment 180 days from date of B/L marketable interest in addition to LC amount.
What is the practical translation of "marketable interest" and accordingly what shall be the additional amount to be expected in this case?
Thanks,
Libor or the like
Hi friend, I am not sure but I understand that deferred payment will be refunded by the issuing bank in addition to the l/c amount, calculated on an interest rate that is marketable, in other words a rate that is commonly used in banks transaction, as London Interbank Offered Rate , or similar quotations, other commercial rates are quoted in a Secondary market too but may be not officially reported.
Ciao