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Jayanta (Service)     10 September 2008

What Sales Act / Laws state

Buyer and Seller are both in India but in different states. They want to enter in to a long term High Seas Buy / Sale Agreement , where the items to be transacted originate from European Union. High Seas Transactions are carried out to reduce duty element. Is it possible to establish a Domestic Letter of Credit by Buyer in favour of Seller for covering year long partial shipments.Transaction in between Seller in India & Abroad is not known as we are buyer only.
Please enlighten me.
Regards,
Jayanta
10.09.2008


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