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requested in your letter of March 22, we would be happy to
accept payment at-sight in U.S. dollars.
In this regard, however, our spare prices are quoted in
won and only a won price list is available. We would therefore
suggest maintaining our invoicing in won while drawing drafts
in U.S. dollars converted at the at-sight buying rate on
the day of negotiation. The conversion rate, which may differ
from day to day, will be shown on our invoice.
Thus, you would simply need to open an at-sight L/C in
won, adding the following clause:
Draft should be drawn in U.S. Dollars converted from the
won amount on the invoice at the at-sight buying rate of
exchange of won to U.S. Dollars quoted by the Bank of Seoul,
Seoul, on the date of negotiation of the draft.
This approach would permit you to make payment in dollars
while eliminating the need for adjustment of lists and so
on on our side.
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