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
09.09.2008
