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SCB DLC Procedure

The document outlines the procedure for submitting and issuing a Documentary Letter of Credit (DLC) at Soleil Chartered Bank, detailing the steps from application to final approval. It specifies required documents, the review process, payment structure, and conditions for amendments. Additionally, it emphasizes that fees must be paid before issuance and that SCB will not engage in certain payment structures.

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17 views2 pages

SCB DLC Procedure

The document outlines the procedure for submitting and issuing a Documentary Letter of Credit (DLC) at Soleil Chartered Bank, detailing the steps from application to final approval. It specifies required documents, the review process, payment structure, and conditions for amendments. Additionally, it emphasizes that fees must be paid before issuance and that SCB will not engage in certain payment structures.

Uploaded by

xumnsz
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Download as PDF, TXT or read online on Scribd
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Soleil Chartered Bank

www.soleilbank.com

Process and Payment Structure – As of 10.24.2014

Documentary Letter of Credit

Below is the normal procedure for the submission and issuance of a Documentary Letter of
Credit.

Step 1:

Application is made to SCB (Soleil Chartered Bank) for opening of a DLC including but not
limited to the following:

1. DLC application form. (Provided by SCB upon request)


2. Performa Invoice of Transaction.
3. Desired verbiage of DLC. (If none provided SCB will provide its normal DLC verbiage).
4. SWIFT code and address of beneficiary bank.
5. KYC and AML documents including but not limited to: Passport copy of applicant,
articles of incorporation of applicant company and brief summary and/or business plan of
underlying transaction.

Step 2:

SCB reviews all documents presented and evaluates acceptability of documents. SCB then either
approves application or denies and shall inform the applicant of such decision.

Step 3:

SCB prepares draft of the DLC as it is comfortable to issue and forwards to client for approval.
All drafts shall be in lined with rules and regulations governing the issuance of DLC.

Step 4:

The client approves the draft and:

1. Signs a contract agreeing to the terms and conditions of issuance and issuance charges as
negotiated.
2. SCB issues the invoice for the agreed upon charges.

Trust is the Cornerstone of Every Relationship.


Trade Correspondence Office: 55 Wall St, Suite 530. New York, New York, USA 10005
Tel: + 1 646 415 8261 Fax: + 1 516 937 1006
Trade Correspondence Office: Bulevardul Libertatii Nr.6, Bloc. 116, Suite 13, SC.1 Postal Code 040128, Sector 4, Bucharest, Romania
Tel: + 40 (21) 335 0950 Fax: + 40 (21) 318 3045
Reg. Union of Comoros
Step 5:

Client makes payment of charges as per agreed upon payment structure.

1. Client shall provide TT/Wire copy of payment made to SCB account.


2. SCB shall confirm to client credit of funds upon receipt of funds to SCB designated
account.

Step 6:

SCB uploads draft to SWIFT system and provides copy to applicant for final approval of
message. Upon approval given by applicant SCB then releases the SWIFT to beneficiary bank
coordinates.

Step 7:

Copies of released SWIFT are then forwarded to the client via email or hard copy as requested.
In case the client is represented by an advisor, then it is forwarded to the advisor only.

Step 8:

Any amendments to DLC are subject to approval of SCB.

The following is the procedure for payment schedule. The following are general terms:

1. Fees are paid before the issuance of each SWIFT message.


2. SCB does not engage in JV payment structures and will not issue any message for zero
monies paid upfront.
3. SCB will not accept payment via ICBPO.
4. If SCB fails to deliver the instrument as agreed upon, SCB shall return the fees paid for
that issuance.

All fees shall be agreed upon and stated in a formalized contract.


 

Trust is the Cornerstone of Every Relationship.


Trade Correspondence Office: 55 Wall St, Suite 530. New York, New York, USA 10005
Tel: + 1 646 415 8261 Fax: + 1 516 937 1006
Trade Correspondence Office: Bulevardul Libertatii Nr.6, Bloc. 116, Suite 13, SC.1 Postal Code 040128, Sector 4, Bucharest, Romania
Tel: + 40 (21) 335 0950 Fax: + 40 (21) 318 3045
Reg. Union of Comoros

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