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
