Format for Letter of Credit Fob - DOC by ssp10761

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                      Documentary Letter of Credit Terms and Conditions

The following are the basic terms and conditions recommended for an export transaction using a
Documentary Letter of Credit.

Applicant’s Letter of Credit Issuing Bank:


Beneficiary’s Advising Bank:



SWIFT MT 700 Message Format:
27      SEQ OF TOTA L:                         1/X
40A     FORM OF DC:                            IRREVOCA BLE
51A     APPLICANT BANK                         Issuing Bank of the importer
20      DOCUM ENTARY CREDIT NO:                XXXXXXXXX
26E     NUM BER OF AMENDM ENTS                 X
30      DATE AM ENDED                          DD / MMM / YY
31C     DATE OF ISSUE:                         DD / MMM / YY
31D     EXPIRY DATE A ND PLA CE                DD / MMM / YY & Place of Exp iry
50      APPLICANT:                             Applicant Name, Address, Telephone, Facsimile & Email.
59      BENEFICIA RY:                          Beneficiary Name, Address, Telephone, Facsimile & Email.
32B     CREDIT AMOUNT:                         USD xxxxxx.xx
41D     AVAILA BLE WITH/ BY:                   Name or SWIFT code of bank.
42C     DRAFTS AT:                             SIGHT or XX DA YS FROM BILL OF LADING DATE.
42D     DRAWEE:                                ISSUING BANK
43P     PARTIAL SHIPM ENTS:                    ALLOWED
43T     TRANSHIPM ENTS:                        ALLOWED
44A     LOADING/ DISPATCH AT/FROM              Ocean Ship ment: FOB/CFR/ CIF named port of loading.
44A     LOADING/ DISPATCH AT FROM              Air Ship ment: CPT/CIP named airport
44B     FOR TRA NSPORTATION TO:                Named port or airport of destination.
44C     LATEST DATE OF SHIPM ENT:              DD / MMM / YY (Min imu m 21 days before LC exp iry date).
45A     GOODS DESCRIPTION:                     Simp le description preferably with no unit prices or quantities.
Documentary Letter of Credit Terms and Conditions (Continued)

46A     DOCUM ENTS REQUIRED:
        1. BILL OF EXCHA GE STATING THE AMOUNT TO BE PAID.

        2. FULL SET OF OCEA N BILLS OF LADING ISSUED TO THE ORDER OF THE LC ISSUING
        BANK AND MA RKED NOTIFY APPLICANT.

        2. or ORIGNIA L AIRWAY BILL.

        3. ORIGINA L INVOICE WITH 4 COPIES.

        4. PA CKING LIST WITH 4 COPIES ISSUED BY THE BENEFICIA RY (if required by the applicant).

47A     ADDITIONA L CONDITIONS:
        1. ALL DOCUM ENTS PRESENTED AFTER 21 DA YS FROM SHIPM ENT DATE BUT WITHIN THE
        VA LIDITY OF THE LETTER OF CREDIT ARE ACCEPTABLE.

        2. ALL DOCUM ENTS TO BE ISSUED IN ENGLISH LANGUA GE.

        4. SPELLIING M ISTA KES A ND TYPING/ INPUT OF DATA ERRORS WILL NOT BE CONSIDERED
        AS DISCREPA NCIES.

48      PERIOD FOR PRESENTATION:                          21 DA YS
49      CONFIRMATION INSTRUCTIONS:                        Depends on LC issuing country.
53A     REIM BURSEM ENT BA NK:                            Name of reimbursement bank
78      INSTRUCTIONS TO PRESENTING BANK:

        1. ALL DOCUM ENTS M UST BE FORWARDED IN ONE MAILING VIA COURIER TO (the Letter o f
        Cred it issuing bank).

        2. OR DOCUM ENTS MA Y BE PRESENTED BY ELECTRONICA LLY TO XXXXX(AT)XXXX.XX .

        3. THIS CREDIT IS SUBJECT TO THE UNIFORM CUSTOMS & PRA CTICE FOR DOCUM ENTARY
        CREDITS, 1993 REVISION, INTERNATIONAL CHAM BER OF COMM ERCE, PARIS, FRANCE,
        PUBLICATION NO. 500 AND THE SUPPLEM ENT TO THE UCP FOR ELECTRONIC
        PRESENTATION (EUCP VERSION 1.0) AND ENGA GES YOU IN ACCORDANCE WITH THE
        TERMS THEREOF. NEGOTIA BLE DOCUM ENTS MA Y BE PRESENTED BY MAIL, COURIER OR
        ELECTRONICA LLY AT THE ISSUING BANK’S URL/ EMAIL LOCATION.




File: ILCBASICLCTERMS10A

								
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