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Draft LC Format

This document provides the terms and conditions of an irrevocable, transferable, and autorevaluing documentary letter of credit. It lists the issuing bank, applicant, beneficiary, currency, goods being shipped, required documents, periods for presentation and shipment, and additional instructions for advising and negotiating banks.

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ELITEKRISH
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3K views

Draft LC Format

This document provides the terms and conditions of an irrevocable, transferable, and autorevaluing documentary letter of credit. It lists the issuing bank, applicant, beneficiary, currency, goods being shipped, required documents, periods for presentation and shipment, and additional instructions for advising and negotiating banks.

Uploaded by

ELITEKRISH
Copyright
© Attribution Non-Commercial (BY-NC)
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOC, PDF, TXT or read online on Scribd
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DRAFT LC FORMAT

27: Sequence of Total


1/1
40A: Form of Documentary Credit
IRREVOCABLE/TRANSFARABLE/AUTOREVALVING
20: Documentary Credit Number

23: Reference to Pre-Advice


31C: Date of Issue

31D: Date and Place of Expiry


01.05.07, INDIA
51:D ISSUING BANK
**************
**********
50: Applicant

51: Applicant
M/S *** *****************

Beneficiary - Name & Address


M/S XYZ COMPANY

32B: Currency Code, Amount


UK------------------
39A: Percentage Credit Amt Tolerance NIL
39B: Maximum Credit Amount:-----
39C: Additional Amounts Covered: NONE
41:D Available with .....by.....Name & Address
ANY BANK
BY NEGOTITATION
42C: Drafts at ....
30 DAYS SIGHT DRAWN AT LC OPENING BANK FOR FULL INVOICE VALUE
42D: Drawee-Name & Address

42M: Mixed Payment Details


42P: Deferred Payment Details
43P: Partial Shipments
ALLOWED
43T: Transhipment
ALLOWED
44A: On Board/Disp/Taking Charge at/F
ANY INDIAN AIRPORT
44B: For Transportation to....
MUMBAI ; INDIA
44C: Latest Date of Shipment

44D: Shipment Period


45A: Description of Goods &/or Services
PROCESSED DATABASE IT PRODUCTS ON CD PRODUCED AFTER CONVERTING FROM SCANNED
PDF/JPEG FORMAT TO DOC FORMAT
46A: Documents Required :
1. SIGNED COMMERICAL INVOICE IN ONE ORIGINAL AND THREE COPIES.
2. FULL SET OF ON BOARD MARINE BILLS OF LADING CONSIGNED TO THE ORDER OF
________BANK, LONDON MARKED FREIGHT PREPAID AND NOTIFY …….M/S
***********************. MUMBAI, INDIA OR AIRWAY BILL CONSIGNED TO ORDER OF
________BANK LONDON MARKED FREIGHT PREPAID AND NOTIFY M/S ________________.
MUMBAI INDIA.

3. PACKING LIST ON ONE ORIGINAL AND THREE COPIES.

4. ONE FULL SET OF NON-NEGOTIATBLE SHIPPING DOCUMENTS TO BE SENT DIRECTLY TO


THE LC APPLICANT AND WITHIN 7 DAYS FROM SHIPMENT DATE BY PREPAID DHL COURIER
SERVICE AND ORIGINAL DOCUMENTS TO INCLUDE THE COURIER RECEIPT EVIDENCEING
THE SAME.

5. AN INSPECTION CERTIFICATE ISSUED BY THE APPLICANT DULY SIGNED BY TWO


AUTHORISED SIGNATORIES OF THE APPLICANT WHOSE SIGNATURE ARE TO BE VERIFIED
BY THE OPENING BANK INDICATING THAT THE CONSIGNMENT HAS BEEN INSPECTED AND
APPROVED AT THE DESIGNATED DESTINATION PORT. A COPY OF SUCH CERTIFICATE TO BE
SWIFT WIRED TO THE BENEFICIARY’S BANK BY WAY OF AN AMENDMENT TO THIS LETTER
OF CREDIT AND THE SAME TO BE PRESENTED FOR NEGOTIATION ALONGWITH THE
ORIGINAL DOCUMENTS.

47A. Additional Conditions


1. THIS L/C IS AVAILABLE WITH ANY BANK IN INDIA FOR NEGOTIATION.

2 UNAUTHENTICATED AMENDMENTSCUTTINGS/OVERWRITING IN DOCUMENTS NOT


ACCEPTABLE.

3. ALL DOCUMENTS SHOULD BE SIGNED MANUALLY AND SHOULD BEAR DATE OF ISSUE, LC
NUMBER AND DATE.

4. FREIGHT FORWARDER'S B/L NOT ACCEPTABLE ONLY OWNER'S B/L ACCEPTABLE

5. FOR ANY DISCREPANT DOCUMENTS PRESENTED UNDER THIS LC, A DISCREPANCY CHARGE
OF USD75.00 OR IT'S EQUIVALENT WILL BE PAYABLE BY THE BENEFICIARY.

6. THIS LETTER OF CREDIT IS ISSUED AT THE REQUEST OF ******************************


LIMITED (THE APPLICANT) ON BEHALF OF ************************************** LIMITED.

71B: Charges
ALL CHARGES EXCEPT L/C OPENING
CHARGES ARE FOR THE ACCOUNT OF THE BENEFICIARY
48: Period for Presentation
WITHIN 14 DAYS FROM THE DATE OF
SHIPMENT BUT WITHIN THE VALIDITY OF
THIS CREDIT
49: Confirmation Instructions
WITHOUT
78: Instr to Payg/Accptg/Negotg Bank

1. ADVISING CHARGES TO BE COLLECTED UPFRONT FROM BENEFICIARY BEFORE


ADVISING.
2. ONE ADDITIONAL PHOTOCOPY OF ALL DOCUMENTS SHOULD BE SUBMITTED ALONG
WITH THE DOCUMENTS.
3. FULL SET OF ORIGINAL DOCUMENTS SHOULD BE SENT TO US IN ONE LOT BY COURIER
SERVICE AT _________
4. THE BENEFICIARY TO INSTRUCT THEIR SHIPPING COMPANY/FORWARDERS TO ALLOW
THE CONSIGNEE TO INSPECT THE CARGO AT PORT OF DESTINATION BENEFICIARY
CERTIFICATE TO THIS EFFECT TO ACCOMPANY DOCUMENTS.

5. WE HEREBY ENGAGE WITH THE DRAWERS, ENDORSERS AND BONAFIDE HOLDERS OF


THE DRAFTS DRAWN UNDER AND IN STRICT COMPLIANCE WITH THE TERMS OF
CREDIT THAT SUCH DRAFTS WILL BE DULY HONOURED ON PRESENTATION.

57 A: Advise Through'Bank
THROUGH STATE BANK INDIA

THIS CREDIT IS SUBJECT TO UNIFORM RULES FOR DOCUMENTARY LETTER


OF CREDIT AS PER ICC 500 (LATEST REVISION).

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